The used car market continues its streak of record-high prices, with the ongoing global microchip shortage impacting new-vehicle supply and driving heavy demand in the used market. As such, some used vehicles are now more expensive than their new equivalents, including the Chevy Trailblazer crossover.
According to a recent study from car search engine iSeeCars.com, the average price for a used example of the Chevy Trailblazer was 14.4 percent higher than the price for a new Chevy Trailblazer. That translates as a $3,856 price increase for a used Chevy Trailblazer as compared to a new Chevy Trailblazer.
“The Chevrolet Trailblazer has been in high demand since its debut, and had a 65.6 percent decrease in new car sales in the first quarter of 2022 due to supply constraints,” said iSeeCars Executive Analyst Karl Brauer.
This combination of high demand and dwindling supplies has led to a surge in used-vehicle pricing. The most dramatic example of this is for the Mercedes-Benz G-Class, the used examples of which are currently more than 20 percent more expensive ($40,958) than new examples, according to the study.
Looking at the overall used car market, prices have fallen slightly since January, but remain only 1 percent less expensive ($454) than new-vehicle counterparts. By comparison, the average used vehicle was 1.3 percent more expensive than an equivalent new model in January.
The iSeeCars.com study is based on an analysis of more than 1.5 million new and used cars sold in April of 2022. In the study, a “used vehicle” includes examples aged one to five years. Per the study, the average price of a one-to-five-year-old used car was $34,392 last month, a 23.9-percent increase year over year. The figure for April is down from a figure of $34,449 recorded in March, the latter of which was a 30.4 percent increase year-over-year.
“Used car prices began to rise in April 2021 due to the microchip shortage, so as the year-over-year elevation in price is dropping, we see used car prices stabilizing at these record highs, with only a tiny drop in recent months,” Brauer said.
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Comments
Come on global recession.
Time to end the free money economy and this wild excess in our society.
I drove by my local dealership recently. Few new cars but they had a number of used. The prices are insane. 7 year old Malibu being sold for what I imagine was close to retail price when it was new. How can people afford this?
They can’t. But they buy it anyway. It’s the American way.
Yep. Fortunately with rising interest rates they will be defaulting on their excessive overpaying.
What I am seeing is a lot of used crap cars being sold. Being pulled out of backyards and put up for sale. $1500-2000 bucks will get you a rusted out frame, clapped out suspension, mechanical issues. The kind that used to go to the scrap yard. Going to look like Cuba in some areas. Imagine driving your new car down the highway, and one of those suffering a major mechanical breakdown that send the car into yours.
This must be the BUILD BACK BETTER PLAN…. LET’S GO BRANDON!
Yes! I too love Brandon!!!