Thursday, September 29, 2022
News Buying a Used Mitsubishi Mirage Cost 50% More in August 2021 than...

Buying a Used Mitsubishi Mirage Cost 50% More in August 2021 than in 2020

Many once-affordable used cars have jumped sharply in value


  • Used car prices remained insanely high in August.

  • The average price increase was 26.2% or $6,454.

  • This percentage is down from June and July.


The impact of the global microchip shortage continues to be felt in the industry. We’ve all seen how pre-owned car prices have skyrocketed and though they’ve slowed slightly, they are still far more expensive in 2021 than they were in 2020.

2020 Chevrolet Spark
2020 Chevrolet Spark | Photo: Chevrolet

On average, a pre-owned vehicle cost 26.2% more in August 2021 compared to the same period the previous year. This amount is down from July (+31.6%) and June (+32.7%) but the jump is still considerable.

Interestingly, the largest spikes in price, as noticed by iSeeCars, belong to a mix of economy and impractical cars. And contrary to the recent past, luxury vehicles are not as impacted.

Among the top three, we find two of the least expensive new cars anyone can buy in the country and they are the Mitsubishi Mirage and the Chevrolet Spark. In fact, six of the top 10 vehicles are small cars.

Here are the Top 10 Cars with the greatest price increases in August 2021:

Rank

Used Vehicle

Average Used Car Price (August 2021)

$ Price Change from August 2020

% Price Change from August 2020

1

Mitsubishi Mirage

$13,398

$4,457

49.9%

2

Nissan LEAF

$19,990

$6,370

46.8%

3

Chevrolet Spark

$14,456

$4,467

44.7%

4

Mercedes-Benz G-Class

$160,465

$45,992

40.2%

5

MINI Hardtop 2 Door

$23,402

$6,044

34.8%

6

Lincoln Navigator

$64,413

$16,532

34.5%

7

Kia Forte

$16,770

$4,125

32.6%

8

Lincoln Navigator L

$66,934

$16,325

32.3%

9

Chevrolet Camaro

$35,635

$8,431

31.0%

10

Kia Soul

$16,940

$3,973

30.6%

Average Across All Cars

$30,766

$6,454

26.2%

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Matt St-Pierre
Trained as an Automotive Technician, Matt has two decades of automotive journalism under his belt. He’s done TV, radio, print and this thing called the internet. He’s an avid collector of many 4-wheeled things, all of them under 1,500 kg, holds a recently expired racing license and is a father of two. Life is beautiful. Send Matt an emai

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