In addition to the increase in food and travel prices, a new report revealed that used car prices have risen 30.4% this year compared to 2021.
And it is that According to the new analysis of the company iSeeCars.com, a site that analyzes the prices of cars of all kinds, everything indicates that this increase will only get worse in the remainder of 2022.
iSeeCars said the increase is due in part to inflation and supply shortages, but also to geopolitical conflicts that have disrupted auto parts production.
“Used car prices remain very high due to lack of supplies and geopolitical factors, such as sanctions once morest Russia, which is a key supplier of materials used to make auto parts and microchips,” the study noted.
According to iSeeCars, used car prices rose 30.4% in March, which represents a slight decrease from the increase registered in February, which was 35%.
“We are seeing a significant increase in demand for used hybrid and electric vehicles due to high gasoline prices,” the report explained. “Hybrid cars rose 40.5% and electric cars 36.3% in March compared to last year” .
WHICH STATES HAVE REPORTED THE GREATEST INCREASE IN USED CAR PRICES?
Here are the average increases in used cars for sale in each state:
| Position | state | Percentage increase registered compared to 2021 | Registered price increase compared to 2021 |
| 1 | Wyoming | 18.9% | $7,650 |
| 2 | Rhode Island | 19.4% | $5,227 |
| 3 | Alaska | 20.3% | $8,013 |
| 4 | Idaho | 22.5% | $6,902 |
| 5 | North Dakota | 24.0% | $7,574 |
| 6 | Texas | 24.7% | $6,698 |
| 7 | South Dakota | 24.7% | $7,916 |
| 8 | Mississippi | 25.2% | $6,676 |
| 9 | Maine | 25.3% | $6,915 |
| 10 | Montana | 25.3% | $8,384 |
| 14 | Utah | 27.3% | $7,043 |
| 19 | New Hampshire | 28.1% | $6,972 |
| 20 | New Mexico | 28.5% | $7,557 |
| 30 | Colorado | 30.0% | $7,980 |
| 31 | Maryland | 30.2% | $7,402 |
| 33 | Virginia | 30.3% | $7,573 |
| Average across all states | 30.4% | $8,032 | |
| 34 | Delaware | 30.5% | $7,280 |
| 36 | Nevada | 30.8% | $7,535 |
| 37 | Arizona | 30.8% | $7,867 |
| 38 | Pennsylvania | 30.9% | $7,740 |
| 41 | Illinois | 31.5% | $8,252 |
| 42 | NY | 31.6% | $8,061 |
| 43 | Florida | 31.7% | $8,201 |
| 44 | Massachusetts | 31.8% | $7,984 |
| 46 | New Jersey | 32.6% | $8,307 |
| 48 | California | 33.2% | $8,764 |
| 50 | Connecticut | 35.2% | $8,426 |
| Range | car model | Average used price (as of March 2022) | Price change compared to March 2021 | % Percentage change compared to March 2021 |
| 1 | Hyundai Sonata Hybrid | $25,620 | $9,991 | 63.9% |
| 2 | Let’s go to 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 Model S | $75,475 | $22,612 | 42.8% |
| 10 | Mitsubishi Mirage | $14,838 | $4,431 | 42.6% |
| Average change of each car | $34,429 | $8,032 | 30.4% |
HOW CAN YOU PROTECT YOURSELF FROM INCREASING PRICES?
According to iSeeCars, the best way for you to avoid paying more for a car in the future until now is to keep your current vehicle or buy a used vehicle that is not in high demand.
But if you need a new car, the company recommends being as flexible with factors as the color and the options that the car has.