October 6: Used car price trends
The impact of the computer chip shortage, starting in 2020, drove up the price of used vehicles.
Source: Car Gurus
Published: September 2021
Used car price trends
CarGurus tracks the prices of millions of used car listings in the US every year. They’ve created an index price so we can easily see price changes over time.
YoY changes for select popular brands: Honda +23%, Toyota +29%, Chevrolet +30%.
The chart shows the impact of the computer chip shortage, starting in 2020, driving up the price of used vehicles. Used vehicles overall are about 30% more expensive than the average of the last 5 years.