Sorry to Tell You: In North Texas and Elsewhere, Used Car Prices Are Probably Going to Keep Rising
Let's say you need a used car and don't have a hefty chunk of change to fork over. Sorry to tell you, pal, but you might not be in luck anytime soon.used in car electronics. These are essential parts of most vehicles, and without enough supply to meet demand, new car production has slowed. Since there aren’t enough being made, the demand for used cars has soared, especially since 2021.
Cox Automotive, the parent company to Kelley Blue Book, AutoTrader and other automotive sales sites, recently put out their. It said the average list price for June 2022 is $28,208 compared with June 2021 at $24,589 and about 30% of the used car retail inventory is in the $35,000 and up range. "We think demand will remain sufficient well into 2022, as there is little indication of notable inventory improvements in new vehicle segments. And when new vehicle inventory is low, more shoppers are in the used vehicle market," Schirmer added.
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