The average price of a used Chevy Spark jumped more than 50 percent year-over-year in February amid sustained high demand for affordable, second-hand vehicles.
According to iSeeCars, the average transaction price of a used Chevy Spark last month stood at $16,949. This was up from just $5,980 in February 2021, representing a massive 54.5 percent year-over-year increase.
Second-hand examples of the Chevy Spark had the second-highest year-over-year price jump in the used car market last month, surpassed only by the Hyundai Sonata Hybrid, which jumped in price by 61.2 percent. It’s worth noting that an all-new Sonata Hybrid was introduced for the 2020 model year, so this price jump could be due to the fact that these more up-to-date examples have begun to hit the used market in larger numbers this year. The Chevy Spark, by comparison, has remained largely unchanged since the second-generation model was introduced for the 2015 model year.
The Kia Rio, a direct competitor to the Spark, also saw a significant year-over-year price increase of 51.4 percent on the used market last month. With the price of both new and used vehicles spiking over the past year, affordable cars like the Chevy Spark and Kia Rio are becoming more popular among American consumers, explained iSeeCars analyst Karl Brauer. Rising gas prices could make these vehicles even more popular going forward, too.
“The Chevrolet Spark and the Kia Rio are among the lowest-cost cars on the market, while the Kia Forte and Kia Soul are among the lowest-priced options in their respective vehicle classes,” said Brauer. “These vehicles, along with the always-popular Toyota Corolla, are attainable for new drivers and those looking for affordable transportation, even after with their large increase in price over the past year.”
Brauer said consumers feeling the pressure of high new and used car prices can instead pour money into maintaining their current vehicle, or look for vehicle types that may not be particularly popular.
“The best way for American consumers to avoid significantly higher prices for the foreseeable future is to either maintain their current vehicle or purchase a used vehicle that isn’t in high demand, and to be as flexible as possible with factors such as color and trim,” he explained.
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Comments
I miss the Sonic & Cruze so much, they were such great little cars (made in the US) Guess people who want a viable alternative will just have to buy Hondas, Toyotas, Mazdas, or Korean makes. All of which build models in the US that are more competitive than the Korean made and Chinese engineered Trailblazer.
What is Mary Barra doing? Will she be held accountable for the inevitable even deeper crash of gm stock? She was handed a company after bankruptcy that had great entry level options and now has really nothing in that segment. She was essentially handed high value stock options right from the pockets of tax payers with the bankruptcy money. After slashing domestic production greedily in pursuit of higher profit cars to boost her stock options.
Who’s gonna pay for this blunder? Guarantee it won’t be Mary or any of her green energy cronies who made money had over fist. Mary Antoinette’s reign needs to come to an end soon, but it doesn’t really even matter I guess cause Biden would bail them out anyways. The system is so broken, no one is held accountable for anything anymore.
I’m glad to see the real you is back.
Though the sub Trailblazer will replace the Trax and Spark I’d wish the Monza was made and available in N/A.
Oh-oh the VPN superhero is avenge his favorite car being dropped on a GM site with his dislikes superpower. They probably mad because this hasn’t became a GM toilet like that other GM site…
I will never understand why people on this website get so stressed out about up or downvotes. Almost every article someone always complains about why aren’t people agreeing with me why this why that blah blah.
And the smart Japanese are producing very affordable fuel efficient hybrids.
Corolla hybrid anyone?
You do realize that the Corolla Hybrid starts at $27k Canadian! Payback on most Hybrids with people who drive 20,000 km a year is over 6 years! Average owner has there vehicle for between 3-5 years ! So not a smart option at all!
Apparently Canadians can’t do math.
Stick to Bacon instead.
Lol that doesn’t even make sense!
‘Better to remain silent and be thought a fool than to speak and to remove all doubt’. Widely attributed to Abraham Lincoln
Actually it makes perfect sense nasty Nick.
I see our GMA Japanese trolls (Evan and h4cksaw) are back in force. How about you two move to Japan and see how you like it all then.
I see the Mary Apologist bootlickers are out.
Enjoy going down with the ship & having your wallet bleed in agony.
Haha. You are such a funny little boy. Now go back to your Japanese master and continue to kiss their ars.
A Mary bootlicker calling someone a little boy?
Lolol so pathetic.
But I thought everyone wanted trucks and suvs, isn’t that why GM discontinued making sedans? I just don’t understand????
In November, my daughter earned the right to have a car again. Looked all over Chi-town for a new base Spark. Only a couple loaded ones around. Plenty of trucks, though. Bought a well dented 2011 180K mi. Elantra from my mechanic for $5k. Glad I did. And it has a timing chain.
180k miles. Must be in MINT condition. We suspect you picked the car for her. I found a 1995 Buick Roadmaster at my mechanic for my daughter years ago. She liked that big thing. The old lady’s son wouldn’t let her sell it.
Mary won’t sell you an inexpensive high-mileage Spark but will sell you a 9000+lb Hummer for $110,000+! Saving the planet 9000 pounds at a time!
With $5+ a gallon (average in the US yesterday) many people will stick to keep their current compact sedan or hatch or buy a used one at a good deal.
The offer / demand teachings since many decades ago dictate the truth. If these little cars prices going up 50% is for a reason.
I really love my 3 cyl Geo Metro now!!
I loved my 3 cyl Sprint!
No surprise here. As the European War prolongs and gasoline prices continually increase, this vehicle will further increase in value.
Fast forward to March 27th 2022. Sales figures are down for the Spark. Not because people don’t want them. It’s supply chain issues, coupled with the fact that they’re halting production permanently. I guess GM is happy to leave the small car market to Asia.
“the average transaction price of a used Chevy Spark last month stood at $16,949. This was up from just $5,980 in February 2021, representing a massive 54.5 percent year-over-year increase.”
Huh? That would be a year-over-year increase of more like a 180 percent.
I think you meant, “This was up by $5,980 in February 2021, representing a massive 54.5 percent year-over-year increase.”