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iSeeCars, an automotive research firm and data-driven car search engine, recently analyzed over 1.9 million used car sales from June of this year and compared them to sales from the previous year.
Over the past year, used car prices on average increased 32.7% or $7,583 in June. This comes after a 26.4% year-over-year increase in May and a 16.8% year-over-year increase in April.
Some used car prices increased nearly 50% while others had a slight increase of 11.4%. Sports cars and pickup trucks saw the highest price increases, while small SUVs, hatchbacks and minivans only saw a small change.
“The microchip shortage has brought historic used car price increases, so much so that some lightly used cars are more expensive than new models,” said iSeeCars Executive Analyst Karl Brauer. “While used car prices are expected to remain elevated for the foreseeable future, we are waiting to see if prices are going to keep rising or if they will start to decline towards pre-microchip shortage levels.”
In Seattle, three of the top five used cars with the greatest year-over-year price increases were pickup trucks.
In fifth place, the Chevrolet Silverado 1500 increased by 42.4% or $13,617 from June 2020. The similar GMC Sierra 1500 came in fourth place, seeing a 44.4% year-over-year price increase. The Chevrolet Camaro, in third place, increased by 45% or $11,790. The last truck on the list, the Ram 1500, ranked second on the list with a 45.1% price increase, barely scraping by the Camaro.
Topping the list of used cars in Seattle with the greatest year-over-year price increase was the Mercedes-Benz G-Class. The vehicle increased 45.9% from June 2020 and saw an average price change of $50,890.
Keep reading to see which used cars and trucks nationally saw the greatest price increases from June 2020 to June 2021, according to the study.
Chevrolet Spark
Chevrolet10. Chevrolet Spark
Average price in June 2021: $13,892
Price change from June 2020: $7,583
Percent price change from June 2020: 40.6%
9. Ford Mustang
Average price in June 2021: $36,476
Price change from June 2020: $10,656
Percent price change from June 2020: 41.3%
8. GMC Sierra 1500
Average price in June 2021: $47,791
Price change from June 2020: $13,963
Percent price change from June 2020: 41.3%
7. Audi A5
Average price in June 2021: $44,376
Price change from June 2020: $13,076
Percent price change from June 2020: 41.8%
Average Price in June 2021: $65,236
Price change from June 2020: $19,411
Percent price change from June 2020: 42.4%
5. Ram Pickup 1500
Average price in June 2021: $40,200
Price change from June 2020: $12,016
Percent price change from June 2020: 42.6%
Average price in June 2021: $66,508
Prince change from June 2020: $20,392
Percent price change from June 2020: 44.2%
3. Chevrolet Camaro
Average price in June 2021: $36,163
Price change from June 2020: $11,242
Percent price change from June 2020: 45.1%
CHICAGO – FEBRUARY 19: 2016 Mercedes Benz G-Class SUV is on display at the 108th Annual Chicago Auto Show at McCormick Place in Chicago, Illinois on February 19, 2016. (Photo By Raymond Boyd/Getty Images)
Raymond Boyd/Getty Images, Getty Images2. Mercedes-Benz G-Class
Average price in June 2021: $158,835
Price change from June 2020: $50,271
Percent price change from June 2020: 46.3%
1. Nissan LEAF
Average price in June 2021: $20,015
Price change from June 2020: $6,501
Percent price change from June 2020: 48.1%
