Costs on the used automotive market are nonetheless insane. In line with an evaluation from iSeeCars primarily based on 1.8 million used automotive gross sales in March, used automobiles price 30.4 p.c greater than the identical month final yr. Nonetheless, that is barely down in comparison with February, when the hole was even greater at 35 p.c.
Many components have an effect on the costs of second-hand automobiles. The manufacturing disruptions are inflicting delays in new automotive deliveries and this implies there’s a rising demand for used automobiles. Nonetheless, there are fewer out there used automobiles than earlier than, which implies the demand is up however the availability is down. This creates a pure leap in costs.
“We’re additionally seeing a big improve in demand for used hybrid and electrical automobiles because of excessive gasoline costs, with the price of hybrids rising by 40.5 p.c and electrical automobiles rising by 36.3 p.c in comparison with final yr,” provides iSeeCars government analyst Karl Brauer.
Logically, some automobiles noticed better value will increase final month than others. The Hyundai Sonata Hybrid had the best value improve year-over-year with its value going up by nearly 64 p.c final month in comparison with March 2021. The Sonata Hybrid retains its first place from final month. One other Korean mannequin, the reasonably priced Kia Rio, got here second with a 49.4 p.c improve in value YoY. The Nissan Leaf was third with a 49.2 p.c improve.
| High 10 automobiles with the best value will increase (YoY) | ||||
| Rank | Used Car | Common Used Automotive Value (March 2022) | $ Value Change from March 2021 | % Value Change from March 2021 |
| 1 | Hyundai Sonata Hybrid | $25,620 | $9,991 | 63.9% |
| 2 | Kia Rio | $17,970 | $5,942 | 49.4% |
| 3 | Nissan LEAF | $25,123 | $8,288 | 49.2% |
| 4 | Chevrolet Spark | $17,039 | $5,526 | 48.0% |
| 5 | Mercedes-Benz G-Class | $220,846 | $71,586 | 48.0% |
| 6 | Toyota Prius | $26,606 | $8,269 | 45.1% |
| 7 | Kia Forte | $20,010 | $6,193 | 44.8% |
| 8 | Kia Soul | $20,169 | $6,107 | 43.4% |
| 9 | Tesla Mannequin S | $75,475 | $22,612 | 42.8% |
| 10 | Mitsubishi Mirage | $14,838 | $4,431 | 42.6% |
| Common Throughout All Automobiles | $34,429 | $8,032 | 30.4% | |
As you may see from the desk above, the record of High 10 automobiles with the best value improve consists of 5 small gasoline automobiles, two hybrids, two electrical automobiles, and the Mercedes-Benz G-Class. With the present gasoline costs, it shouldn’t come as a shock that many individuals are going for extra environment friendly and smaller combustion fashions, which drives their costs up.
