Economy

Midwest Cities Among 50 Hardest Hit by Increased Used Car Prices

Midwest Cities Among 50 Hardest Hit by Increased Used Car Prices
Chevrolet Camaros sit in the lot for sale at a General Motors dealership at the Troy Motor Mall in Troy, Mich., on Aug. 17, 2010. Bill Pugliano/Getty Images
The Center Square
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Buying a used car in the Midwest got a little more affordable in May over the previous month.

The good news is that year-over-year price increases in used vehicles in May dropped seven percentage points from the year-over-year April price increases, from April’s 23.9 percent to May’s 16.9 percent. The bad news is a used car and truck in May 2022 still cost 16.9 percent more than a comparable used vehicle cost in May 2021.

The Center Square
The Center Square
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The Center Square was launched in May 2019 to fulfill the need for high-quality statehouse and statewide news across the United States. The focus of our work is state- and local-level government and economic reporting. www.thecentersquare.com
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