Used car prices are still skyrocketing and these are the worst
Fox News
New iseecars.com report is bad news for shoppers, great news for sellers
"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," iSeeCars Executive Analyst Karl Brauer. The increase in prices has been steadily climbing in recent months. They were up 16.8% in April and 26.4% in May, which look like bargains compared to June. Relief could be on the way in the coming weeks, as the Manheim wholesale price index dropped 1.3% in June, but it usually takes about two months for that to be reflected in retail sales. Coupes, convertibles and pickups are leading the way with spikes of 41.3%, 40.9% and 38.6%, respectively, while hatchback cars are at the bottom of the list at 26.3%.
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