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Used Car Prices In America At A Record High

This is the highest monthly increase ever recorded. The global pandemic brought the auto industry to a standstill last year, forcing manufacturers to close production facilities around the world. With many consumers facing financial hardship, sales of new cars also plummeted. Now, just as the auto industry is starting to recover, the ongoing semiconductor crisis is causing major supply issues and production shutdowns. Consequently, we ve seen sticker prices of popular new models like the Ford F-150, Ford Mustang Mach-E, and Chevrolet Silverado 2500HD increase by around 13 percent. With new cars in short supply, demand for used cars is stronger than ever.

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