Used Chevy Spark Prices Have Increased Significantly In The Past Year4
The average price of a used Chevy Spark has increased significantly in the past year, according to a recent study conducted by market research firm iSeeCars.
In June of this year, a used Chevy Spark sold for an average of $13,892 – up by $4,015 from June 2020. That’s an increase of 40.6 percent in just 12 months on what is one of the most affordable new vehicles available today.
iSeeCars analysts believe lower than usual new vehicle inventory brought on by the microchip shortage is turning more buyers to the used market – in turn driving up prices of second-hand vehicles.
“The microchip shortage has brought historic used car price increases, so much so that some lightly used cars are more expensive than new models,” iSeeCars executive analyst Karl Brauer explained. “While used car prices are expected to remain elevated for the foreseeable future, we are waiting to see if prices are going to keep rising or if they will start to decline towards pre-microchip shortage levels.”
Brauer also said the Chevy Spark’s low price tag has made it a popular choice in the past year, with prices remaining low even amid rising vehicle prices due to the chip shortage.
“The Chevrolet Spark’s main appeal is its low price point, making it attainable for new drivers and those looking for cheap transportation, even with a big bump in prices over the past year,” said Brauer.
Sales of the Chevy Spark grew 46 percent year-over-year in Q2 2021 to 7,754 units. This enabled the city car to continue as the best-selling model in its segment, outpacing the Mitsubishi Mirage and Fiat 500. The configurator for the 2022 Chevy Spark went live this week, ushering it in the next model year of this increasingly popular subcompact.
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I am so glad I got mine before the chip shortage. 11.5k out the door. I probably can make a couple grand if I sell it. But then I won’t be able to afford anything else. Ha
These are just damn good little cars. I wanna buy one in the worst way but just can’t justify the “want”. I already have a Sonic LTZ. It would be redundant. Perhaps some day I’ll convince myself I need one. LOL
I had a 2013 Spark and loved it. I was in a MVA and it was totaled but my insurance company it good because of its very low mileage ( 35,200) . I got over 9,000 dollars.
I purchased a 2013 in January. Paid $1000. I love this car. Very dependable, inexpensive car