If you are in the market for a new or used car, chances are you are not going to find what you want. And if you do, you are going to pay a lot more for it. Dealerships throughout the country, including Southern California, are reporting supply shortages. 

Here are 5 things you need to know about car prices:
  1. New car supply is down 61% from a year ago, according to Cox Automotive. The ongoing computer chip shortage is preventing manufacturers from being able to build enough cars to meet demand.
  2. The average transaction price for a new vehicle right now is more than $41,000 — a 5.5% increase compared with prices heading into the pandemic last spring.
  3. The average list price for a used vehicle with 67,000 miles on the odometer is $24,500 right now compared with $19,500 a year ago.
  4. The most popular models with the least supply are the Toyota Corolla, Toyota RAV4, Toyota Tacoma 4WD, Subaru Forester and Ford Bronco Sport.
  5. Alfa Romeo, Fiat, Genesis, Infiniti and Mitsubishi have more supply than the national average.