Car Prices Expected to Rise After Baltimore Bridge Collapse

The bridge collapse in the port of Baltimore has the potential to create a domino effect in the auto industry, resulting in inventory shortages and price increases. The incident is expected to make a dent in the broader economy as well. According to Michel Leonard, chief economist and data scientist at the Insurance Information Institute, the car sector will see a significant disruption similar to that seen during the pandemic, albeit on a smaller scale. According to his prediction, there will be a period when prices for new cars will go up. “Consumers will experience that within a few weeks,” he told The Epoch Times....