News Blog


Post Pandemic World

by Eddie Massey 3 years ago

In this topsy-turvy post - pandemic world (hopefully) Edmonds.com revealed the average transaction price for all vehicles sold  with 100,000 to 109,999 miles at U.S. Dealers was $16,489 in June.  That is up nearly $4000 or 31% from June 2020. They not only sold at a much higher price but also moved off dealers lots weeks faster.  We are seeing 7-8 year old vehicles with more than 100,000 miles commanding prices today that are more like the cost of a 5 year old vehicle with 60,000-80,000 miles a year ago.  Demand is high and supply is low.  Vehicle quality has been on the rise for several years and it is very reasonable to expect a vehicle to last well beond 100,000 miles.  We invite your comments concerning this shocking rise in used car prices.  Dealers have been amazed at the prices required to purchase inventory.

Comments: