Used car pricing is touching the sky after and the pandemic has affected the production of new cars and led to rising in used car prices. The companies have checked the rise is almost more than 30% in the market as compared to previous years and I-5 Motors are offering great discounts on used cars for sale.
The used car prices are higher as compared to April 2020 and there are chances there will be up high in coming months. The lack of new cars and production delay is the major issues of these number reaching the sky. The brands haven’t sold as many new cars compared to the used cars and prices are reaching climbing high. The major brands like Ford, Hyundai, GM have seen a spike by 20-30%.
The rise in the price of the different brands’ model line-up has created a huge impact on the sales of new vehicles. The brands whose used cars sales have been increased by more than 30% are
- Aston Martin- 40.5%
- Chevrolet- 37.3%
- Dodge- 36.4%
- GMC- 37.9%
- Ford- 38.7%
- Hyundai & Kia- 30.1%
- Lincoln- 32.9%
- RAM- 40.5%
- Toyota- 30.5%
- Volkswagen- 35.1%
Some brands are not ranking in the sale of used cars even the rising future of EV is declining in the used car market. The sale hasn’t seen much surge as compared to other conventional vehicles. However, there is a slight increase in the sales percentage of these used electric vehicles. There are chances of shifted consumer behavior in terms of investing in electric vehicles. The EV’s are quite comfortable and loaded with technology that makes the drive smooth and more fun.
