Prices on the used car market are skyrocketing. So much so that in some rare cases used cars are selling for more than when they were new. According to a recent analysis, in June this year, the used car prices were up by 32.7 percent, or $7,583 on average, compared to June 2020. This number is based on over 1.9 million sales on the second-hand market last month analyzed by iSeeCars.
The global microchip shortage is seen by specialists as the main reason for the continuously increasing used car prices. Production and delivery disruptions mean fewer people are trading their used cars for new ones. In addition, more people are waiting for better financial times to replace their vehicles.
The analysis made by iSeeCars discovered that the Nissan Leaf saw the greatest price increase in June compared to the same month last year. The average price for a used example of the electric vehicle was $20,015 which is 48.1 percent more than the average used Leaf price a year ago. The Mercedes-Benz G-Class came second with an average price of $158,835 in June this year or 46.3 percent more than June 2020.
| Top 10 cars with the greatest price increases (YoY) – iSeeCars June 2021 Study | ||||
| Rank | Used Vehicle | Average Used Car Price (June 2021) | $ Price Change from June 2020 | % Price Change from June 2020 |
| 1 | Nissan LEAF | $20,015 | $6,501 | 48.1% |
| 2 | Mercedes-Benz G-Class | $158,835 | $50,271 | 46.3% |
| 3 | Chevrolet Camaro | $36,163 | $11,242 | 45.1% |
| 4 | Lincoln Navigator L | $66,508 | $20,392 | 44.2% |
| 5 | Ram Pickup 1500 | $40,200 | $12,016 | 42.6% |
| 6 | Lincoln Navigator | $65,236 | $19,411 | 42.4% |
| 7 | Audi A5 | $44,376 | $13,076 | 41.8% |
| 8 | GMC Sierra 1500 | $47,791 | $13,963 | 41.3% |
| 9 | Ford Mustang | $36,476 | $10,656 | 41.3% |
| 10 | Chevrolet Spark | $13,892 | $4,015 | 40.6% |
| Average | $30,766 | $7,583 | 32.7% | |
Another Mercedes SUV – the GLC, registered the smallest price increase of just 11.4 percent and an average used price of $33,936. The Volvo XC90 came second with an average price of $37,099, 12.6 percent more than in June 2020. Three more high-riding models, the Audi SQ5, Subaru Crosstrek, and Audi Q7 made the top five list.
| Top 10 cars with the smallest price increases (YoY) – iSeeCars June 2021 Study | ||||
| Rank | Used Vehicle | Average Used Car Price (June 2021) | $ Price Change from June 2020 | % Price Change from June 2020 |
| 1 | Mercedes-Benz GLC | $33,936 | $3,867 | 11.4% |
| 2 | Volvo XC90 | $37,099 | $4,681 | 12.6% |
| 3 | Audi SQ5 | $40,028 | $5,768 | 14.4% |
| 4 | Subaru Crosstrek | $21,570 | $3,271 | 15.2% |
| 5 | Audi Q7 | $37,616 | $6,324 | 16.8% |
| 6 | Tesla Model S | $52,771 | $9,240 | 17.5% |
| 7 | Hyundai Accent | $11,505 | $2,019 | 17.5% |
| 8 | Audi A7 | $38,755 | $6,836 | 17.6% |
| 9 | Mazda CX-3 | $17,057 | $3,074 | 18.0% |
| 10 | Mitsubishi Outlander | $16,618 | $3,031 | 18.2% |
| Average | $30,766 | $7,583 | 32.7% | |
In general, sports cars – including coupes and convertibles – increased the most (41.3 and 40.9 percent, respectively) in terms of used car prices this June. Pickup trucks came third with 38.6 percent, followed by sedans (33.7 percent) and wagons (30.4 percent).
