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Used Car Buyers Willing to Travel Hundreds of Miles to Get the One they Want

auto sales
A recent survey found that consumers will travel almost 500 miles for a car. Buyers in Alaska are prepared to travel nearly 725 miles. New and used car buyers have been somewhat desperate for the last year and a half or so. Part supply...

American Honda Will Expand its Certified Pre-owned Program to 10-year-old vehicles

2022 Honda Civic
The new program will apply to Honda and Acura vehicles. It is meant to attract younger budget-minded buyers. New vehicle inventories are extremely low because of pandemic-driven circumstances and part shortages. One of the resulting side-effects is used car prices which have exploded over...

These are the Top 10 Cars with the Greatest Price Increases YoY

Used car prices are up 35% from 2021. Fuel-efficient vehicles, hybrids, and EVs are the biggest jumpers. There’s one exception to this rule. For months now, we’ve been sharing these reports. The global chip shortage and other part supply issues have driven up used-vehicle...

Used Car Prices Dropping in the US but Still Sky High

used 2016 Honda Civic LX
Average prices peaked between November and January. On average, used cars are still about 40% more than they were a year ago. The last 12 months have seen used vehicle prices soar to disturbing heights. Year-over-year, from February 2021 to February 2022, the pre-owned...

The Average Used Vehicle Price Rose to $33,240 in Canada Last Year

The average selling price for a used car is 34.5% higher than it was in 2020. The $33,240 amount is an all-time high. The average new vehicle sold for a whopping $50,758 last year. The numbers are staggering, frightening even. If you purchased a...

These are the Top 15 Cars that Cost More Used than New

The Mercedes-AMG G-Class sells for about 35% used compared to what it cost new. On average, according to the study, a one-year-old used car costs 1.3% more than its new version. Not that long ago, buying a pre-owned gently-used vehicle was a sound and...

Used Car Prices Once More on the Rise in November

2019 Nissan LEAF PLUS IZEV Program
Prices are up 27.9% on average in November 2021 over 2020. October 2021 prices were up 24.9 over the same period in 2020. Fuel-efficient cars lead the way with huge gains. This past November has once again witnessed massive increases in used cars prices....

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

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...

The Effects of the Ongoing Chip Shortage Should End in Six to Nine Months

The chip shortage is directly responsible for strong inflation readings in the US. New vehicle production cuts created strong demand for both new and used vehicles. Semi-conductor production capacity has risen and is rising in the US. Perhaps one of the most reported side-effects...

Microchip Shortage Drives Up Some Used Car Pricing Above New

Continued strong demand and non-existent inventory have made some late-model used vehicles more valuable than when they were new. One used vehicle is worth 8.1% more now than a new one. Overall, 16 vehicles have been identified as costing more used than when...