Used car market gets even more bizarre

Data: Manheim Used Vehicle Value Index (Cox Automotive); Chart: Axios Visuals

Anyone who’s shopped for a car this year knows that new ones are hard to get and used ones have gotten way more expensive. And we know why: There’s a global shortage of all the computer chips modern-day cars require. But October’s used car price growth still managed to shock even the experts.

The latest: The industry’s key index of used vehicle prices jumped another 9.2% over the span of just a month. That puts the index 38% higher than a year ago — compared to “just” 27% for the same stat in September.

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Why it matters: The market for cars and trucks is one of those that’s most impacted by pandemic-era supply problems. That’s unfortunate because vehicles are big-ticket items that most Americans rely on

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Bizarre ‘Lo-Res Car’ Fetches Surreal $111,111 Price at Bring a Trailer Auction

Photo credit: Bring a Trailer

Photo credit: Bring a Trailer

  • The Lo-Res Car, created by the United Nude footwear company, takes inspiration from an abstract, low-resolution version of the Lamborghini Countach and is up for auction on Bring a Trailer.

  • The body is composed of 12 tinted clear polycarbonate panels and sits on a steel-tube frame, with power coming from a 5-kilowatt electric motor.

  • The Lo-Res Car is being offered for sale by the Petersen Automotive Museum, and half of the proceeds will be donated to an environmental nonprofit.

UPDATE 10/19/21: The United Nude Lo-Res Car was sold for $111,111 when the auction closed on October 15, 2021.

While the vehicle you see here looks like a smaller, car-like sibling to Tesla’s radically styled Cybertruck, this futuristic wedge is actually the creation of footwear company United Nude. Christened the Lo-Res Car, this wacky vehicle was originally sketched by United Nude founder Rem D.

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