What’s Next for Profits? Cars Shed Light on a Key Inflation Question.

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The auto market split into two segments that are now diverging — new cars and used cars. New-car production was upended as the pandemic shut down factories making semiconductors and other parts, and it is only limping back. Freshly minted vehicles remain extraordinarily scarce, according to dealers and data, and several industry experts said they didn’t see a return to normal levels of output...

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