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. The auto industry continues to be battered by supply issues including microchip shortages. New vehicle inventories remain low driving consumers towards pre-owned vehicles. The increased demand has driven prices to never-seen heights.
This phenomenon has been ongoing for many months. As a result, once attainable used vehicles are now priced out of many people’s reach meaning they are now shopping for smaller and more affordable vehicles. This explains recent dramatic increases in the values of once inexpensive cars.
iSeeCars has compiled a top 10 list of vehicles that have garnered the greatest price increases year-over-year. The Nissan LEAF takes the crown with a staggering 64% increase in value from November 2020, or more than double the average of 27.9%.
Here are the Top 10 value gainers from November 2021:
|Top 10 Cars with the Greatest Price Increases (YoY) – iSeeCars November 2021 Study|
|Rank||Used Vehicle||Average Used Car Price (November 2021)||$ Price Change from November 2020||% Price Change from November 2020|
|6||MINI Hardtop 2 Door||$24,788||$7,136||40.4%|
|Average Across All Cars||$31,848||$6,939||27.9%|