The Epoch Times
The Epoch Times
AD
The Epoch Times
Support Us
Inflation

Used Car Prices Surge 39 Percent Over 12 months Through November

Used Car Prices Surge 39 Percent Over 12 months Through November
Used cars for sale are on display in Oklahoma City, Okla., on June 24, 2021. Sue Ogrocki/AP Photo
Naveen Athrappully
Naveen Athrappully
1/4/2022|Updated: 1/4/2022

Used car prices are vaulting to record highs with an average price tag of $29,011 in November, as new vehicle production slows down because of chip shortages and inventories of second-hand cars dwindle in dealerships throughout the country.

A used car in the United States costs approximately 39 percent more than what it did a year back, and according to some estimates, this is the first time half the households in the country are in a situation where they wouldn’t be able to afford a car. Prices have gone up at a blistering pace pricing out many would-be buyers from the market.

Naveen Athrappully
Naveen Athrappully
Author
Naveen Athrappully is a news reporter covering business and world events at The Epoch Times.
Author’s Selected Articles

Burgum Orders Scale-Back on Solar, Wind Projects, Citing Low Energy Efficiency

Aug 03, 2025
Burgum Orders Scale-Back on Solar, Wind Projects, Citing Low Energy Efficiency

Trump Admin Cancels $26 Million Funding for Baltimore-DC Maglev Train Project

Aug 03, 2025
Trump Admin Cancels $26 Million Funding for Baltimore-DC Maglev Train Project

Tesla Fined $243 Million by Florida Jury in Autopilot Crash Lawsuit

Aug 02, 2025
Tesla Fined $243 Million by Florida Jury in Autopilot Crash Lawsuit

US, Russia Space Chiefs Hold First Direct Meeting Since 2018, Vow to Continue Cooperation

Aug 01, 2025
US, Russia Space Chiefs Hold First Direct Meeting Since 2018, Vow to Continue Cooperation
Related Topics
motor vehicles
used cars
used car prices
Add to My List
Save
The Epoch Times
To ensure we reach the high standards of reliability and neutrality that you expect from us, we are engaging with Ad Fontes Media to analyze our content. If you find an article you think falls short of the standard, please submit the link through this form.
Copyright © 2000 - 2025 The Epoch Times Association Inc. All Rights Reserved.