Used Market Inflates
Most segments have seen steady price increases this year amid tight supply, trade tariff effect.
Average used car prices are up 1% this month to $18,234, though they’re down year-over-year by the same rate, Carfax reported.
Pexels/Richard Taveira
Used-vehicle prices are on the rise as supply remains constrained, pickup truck prices surging the most this month.
A Carfax report shows the average used truck price has spiked almost $1,100 in June, or 3% to $34,420 for its biggest jump since May 2023.
The inflation trend is being observed in other segments, including hybrids and electric vehicles, whose average price has surged more than $2,300 since January, according to Carfax’s used-vehicle listings. It said the segment saw an average $850 price bump this month alone, or about 3% to $31,494.
Used cars, meanwhile, are up 1% this month to an average $18,234, though they’re strangely down year-over-year by the same rate.
Used SUVs are up about the same rate to $24,082. And luxury cars and SUVs are up about 2% to $30,574 and $35,185, respectively, Carfax said.
Going against the grain, minivans actually fell in price this month by an average of 1% to $22,478.
Like other market watchers, Carfax has observed reserved consumer demand in the past couple of months following the early spring shopping surge as many people rushed to buy before U.S. trade tariffs could affect prices.
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