Free Republic

A microchip shortage is translating to higher car prices across America. CBS reported that the average price of a new car has topped $40,000 and that used car prices have risen nearly 30 percent due to the shortage. Lansing, Michigan, resident Heather Lyons knows that firsthand. In looking to buy a replacement for a totaled car, she said she will end up paying more to get less, according to WILX-TV. “It really is bad. My car payment last time for a decent vehicle was something I could afford and this time it’s going to be a worse vehicle for more...

Wholesale used car prices dropped by 4.2 percent from May to June, marking the largest monthly decrease since the start of the COVID-19 pandemic, according to the Manheim Used Vehicle Value Index (MUVVI). The index, which is a measurement of wholesale prices of used vehicles, also saw a drop of 10.3 percent from a year ago. “The 4.2 percent drop is among the largest declines in MUVVI history and the largest decline since the start of the pandemic in April 2020 when the index plunged 11.4 percent,” Chris Frey, senior manager of economic and industry insights for Cox Automotive, said...

Used car prices have soared, recording the largest February increase in 14 years, according to reports. The spike in prices comes as inflation continues to drive consumer prices. Wholesale used-vehicle prices increased 4.1 percent from January through the first half of this month, signifying the largest February increase since 2009’s full-month 4.4 percent gain, according to the mid-month Manheim Used Vehicle Value Index from Cox Automotive. This comes just a month after markets were hit with a massive rise in used car prices, according to the Manheim Used Vehicle Value Index. The used vehicle index rose to 234.0, down 7.3...

It’s been a challenging year for consumers. And with the highest inflation in four decades, some are paring back spending on big-ticket items, such as used automobiles. After jumping 90%, since the start of the virus pandemic, used car prices are cooling as buyers balk due to affordability issues stemming from soaring interest rates. Outside of the COVID shock and Great Financial Crisis of 2008/09, the Manheim Used Vehicle Value Index, a wholesale tracker of used car prices, printed the most significant monthly decline in terms of rate of change averaged out over three months in April at 6.4%. It...

It turns out that all of the “doom and gloomers” that were warning that we would eventually experience nightmarish inflation were right after all. In particular, vehicle prices have become exceedingly painful in recent months. Due to a crippling global shortage of computer chips, production of new vehicles is way down, and a lot of that demand has shifted into the used vehicle market. Over the past year, used vehicle prices have escalated at a pace that we have never seen before in our entire history, and things reached a crescendo during the month of October. If you can believe...

Reports show that wholesale used car prices climbed to an all-time high in September even though dealership inventories have historically low inventory given the high demand for second-hand cars in the supply chain. The Manheim U.S. Used Vehicle Value Index showed that the month-over-month in September increased by 5.3 percent in September, which is the highest rise since April. Over the last year, the index increased by 27.1 percent to 204.8.

Used Vehicle Prices Explode To All Time Highs After Plunging Just Months Ago Tyler Durden Thu, 08/20/2020 - 22:05 When you have the Central Bank back-stopping every industry in the United States, it's incredible how quickly things can change over the course of less than a quarter. Less than two months ago we were talking about the unprecedented crash in used car prices that had taken place as a result of the coronavirus pandemic slowing the economy. "Where's the inflation?" everyone kept asking. We think we've found it. Today, according to new research from Manheim, those prices have exploded to...

Toyota HighlanderToyota TundraToyota SiennaToyota PriusToyota RAV4Honda OdysseyToyota SequoiaToyota TacomaHonda CR-VToyota AvalonAcura MDXToyota CamrySubaru ForesterNissan FrontierVolkswagen Golf