Prices on the used car market are skyrocketing. So much so that in some rare cases used cars are selling for more than when they were new. According to a recent analysis, in June this year, the used car prices were up by 32.7 percent, or $7,583 on average, compared to June 2020. This number is based on over 1.9 million sales on the second-hand market last month analyzed by iSeeCars.

The global microchip shortage is seen by specialists as the main reason for the continuously increasing used car prices. Production and delivery disruptions mean fewer people are trading their used cars for new ones. In addition, more people are waiting for better financial times to replace their vehicles.

The analysis made by iSeeCars discovered that the Nissan Leaf saw the greatest price increase in June compared to the same month last year. The average price for a used example of the electric vehicle was $20,015 which is 48.1 percent more than the average used Leaf price a year ago. The Mercedes-Benz G-Class came second with an average price of $158,835 in June this year or 46.3 percent more than June 2020.

Top 10 cars with the greatest price increases (YoY) - iSeeCars June 2021 Study
Rank Used Vehicle Average Used Car Price (June 2021) $ Price Change from June 2020  % Price Change from June 2020 
1 Nissan LEAF $20,015 $6,501 48.1%
2 Mercedes-Benz G-Class $158,835 $50,271 46.3%
3 Chevrolet Camaro $36,163 $11,242 45.1%
4 Lincoln Navigator L $66,508 $20,392 44.2%
5 Ram Pickup 1500 $40,200 $12,016 42.6%
6 Lincoln Navigator $65,236 $19,411 42.4%
7 Audi A5 $44,376 $13,076 41.8%
8 GMC Sierra 1500 $47,791 $13,963 41.3%
9 Ford Mustang $36,476 $10,656 41.3%
10 Chevrolet Spark $13,892 $4,015 40.6%
Average $30,766 $7,583 32.7%

Another Mercedes SUV - the GLC, registered the smallest price increase of just 11.4 percent and an average used price of $33,936. The Volvo XC90 came second with an average price of $37,099, 12.6 percent more than in June 2020. Three more high-riding models, the Audi SQ5, Subaru Crosstrek, and Audi Q7 made the top five list.

Top 10 cars with the smallest price increases (YoY) - iSeeCars June 2021 Study
Rank Used Vehicle Average Used Car Price (June 2021) $ Price Change from June 2020  % Price Change from June 2020 
1 Mercedes-Benz GLC $33,936 $3,867 11.4%
2 Volvo XC90 $37,099 $4,681 12.6%
3 Audi SQ5 $40,028 $5,768 14.4%
4 Subaru Crosstrek $21,570 $3,271 15.2%
5 Audi Q7 $37,616 $6,324 16.8%
6 Tesla Model S $52,771 $9,240 17.5%
7 Hyundai Accent $11,505 $2,019 17.5%
8 Audi A7 $38,755 $6,836 17.6%
9 Mazda CX-3 $17,057 $3,074 18.0%
10 Mitsubishi Outlander $16,618 $3,031 18.2%
Average $30,766 $7,583 32.7%

In general, sports cars - including coupes and convertibles - increased the most (41.3 and 40.9 percent, respectively) in terms of used car prices this June. Pickup trucks came third with 38.6 percent, followed by sedans (33.7 percent) and wagons (30.4 percent). 

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