Used car prices are accelerating Used car prices are accelerating http://www.federatedinvestors.com/static/images/fhi/fed-hermes-logo-amp.png http://www.federatedinvestors.com/daf\images\insights\infographic\cars-used-small.jpg July 28 2022 July 28 2022

Used car prices are accelerating

How supply-chain issues have driven up values.
Published July 28 2022
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Used car prices are accelerating Annual used car sales in millions of units. 40.8 in 2019, 37.3 in 2020, 40.9 in 2021. About a 12% increase from 2020 to 2021. Average used car price in dollars in thousands, adjusted for inflation. $19.9 in 2019, $22.0 in 2020, $26.7 in 2021, $28.4 in 2022 as of April 2022. 42% increase from 2019 to 2022. 28% increase from 2021 to 2022. Average age of vehicles on the road. Vehicles ages are in years. 8.9 in 2001, 9.9 in 2006, 10.9 in 2011, 11.6 in 2016, 12.1 in 2021, 12.2 in 2022. Used car dealerships outnumber new car dealerships in the U.S. 139,723 used car dealerships versus 18,666 new car dealerships. Information Sources: Automotive News, January 2022; Axlewise, May 2022; Bureau of Labor Statistics Data, June 2022; Carsurance, January 2022; IBISWorld, July 2022; IHSMarkit, June 2021; Kelley Blue Book, June 2022; Statista, April 2022.
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