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Tuesday, June 14, 2011
Sticker Shock: U.S. Used Car Prices Soar as Nation Tackles Weak Economy and More
Posted by wedos at 4:31 PM
Well, it was bound to happen sooner or later. U.S. used car prices are up 30% over June 2010, in some cases besting Kelly Blue Book values by as much as 25%. Trade-ins are also up by 30% since this time last year.
A variety of factors, including an economy still reeling from the Global Financial Crisis, high gas prices and the Tōhoku earthquake, are thought to be responsible for the massive price rise.
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