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 prices to record highs. The Ukraine war is now also affecting values as fuel costs have recently dramatically increased. These factors are clearly responsible for positioning some vehicles on this top 10 list.
Average used car prices are up 35% year-over-year. Behind this average are skyrocketing values of used hybrid and electric vehicles. They’ve respectively shot up 46.9% and 43.0%. This explains why they account for five of the 10 vehicles on this list.
The data, which has been heavily mined by iSeeCars, also shows that fuel-efficient or compact vehicles have also seen massive price hikes. And then, there’s the Mercedes-Benz G-Class…
Here are the Top 10 used vehicles with the greatest price increases YoY:
Top 10 Cars with the Greatest Price Increases (YoY) – iSeeCars February 2022 Study | ||||
Rank | Used Vehicle | Average Used Car Price (February 2022) | $ Price Change from February 2021 | % Price Change from February 2021 |
1 | Hyundai Sonata Hybrid | $24,913 | $ 9,457 | 61.2% |
2 | Chevrolet Spark | $16,949 | $5,980 | 54.5% |
3 | Nissan LEAF | $24,393 | $8,579 | 54.3% |
4 | Mercedes-Benz G-Class | $215,946 | $73,963 | 52.1% |
5 | Kia Forte | $19,657 | $6,711 | 51.8% |
6 | Kia Rio | $17,772 | $6,035 | 51.4% |
7 | Kia Soul | $19,824 | $6,442 | 48.1% |
8 | Tesla Model S | $80,299 | $25,825 | 47.4% |
9 | Toyota Corolla | $21,435 | $6,849 | 47.0% |
10 | Toyota Prius | $26,058 | $8,298 | 46.7% |
Average Across All Cars | $35,029 | $9,080 | 35.0% | |
