Low production output of new cars has compounded with rising demand to send the average transaction price of new vehicles skyrocketing in recent months. Not even the long-defunct Saturn brand has been shielded from rising vehicle transaction prices, with the average price of a used Saturn spiking by more than 26 percent over the past 90 days.
According to data compiled by CarGurus, the average transaction price of a used Saturn vehicle currently sits at $6,284 – up 26.15 percent from 90 days ago. The average price of a used Saturn is also up 30.24 percent year-over-year, which is equivalent to around $1,900.
CarGurus’ data indicates the average price of a used car has gone up by 17.11 percent in the last 90 days, meaning Saturn price increases are outpacing the industry-wide average. The newest Saturn vehicles are from the 2010 model year, so it’s possible that consumers are flocking to the discontinued GM brand to get a cheap older used vehicle. Some Saturn products may not draw as many potential buyers as the equivalent Chevy or GMC product, either, which could make them a good deal for buyers who are in the know.
Saturn’s lineup for the 2010 model year consisted of the Saturn Vue compact crossover, Saturn Sky roadster, Saturn Outlook full-size crossover and the Saturn Aura mid-size sedan. The automaker discontinued the Saturn Astra hatchback after the 2009 model year, though this model could also be popular with consumers looking for a cheap and efficient daily driver.
Pickups have seen the biggest spike in prices on the second-hand market in the past year, according to CarGurus, with average transaction prices spiking by 44.4 percent for these models. Larger SUVs trail pickups with an average year-over-year price increase of 31.87 percent, followed by vans at 29.98 percent, sedans at 29.43 percent and crossovers at 24.48 percent. Wagons have seen the smallest year-over-year price increase at 15.16 percent.