With so many factors affecting negatively the production of new cars globally, it’s not a surprise that used car prices keep going up. Brexit, coronavirus, the chip shortage, and the war in Ukraine all created supply chain disruptions, and this resulted in an avalanche effect on the market. A brand new car now costs more than before and you have to wait longer until you receive it, which drives the prices of used cars towards new records every month.
The numbers for February 2022 on the US used car market come to prove that. New data published by iSeeCars and based on 1.8 million used car sales in February shows used car prices were up by 35 percent last month compared to February 2021. While slightly down from January’s increase of 36.9 percent, February was another month of record-high jump in used car prices.
