This trend isn’t slowing down.
It’s no surprise that used car prices continue to rise due to so many factors. The market has been affected by disruptions caused by Brexit, the coronavirus and the chip shortage. The cost of a brand new car is higher than ever before, and it takes longer to receive it. This has led to a rise in the price of used cars.
These numbers are based on data from the US used cars market for February 2022. New data from iSeeCars based on 1.8million used cars sold in February shows that used car prices increased by 35 percent compared to February 2021. Although February’s 36.6 percent increase in January was slightly lower than February, it still marked another record-breaking month for used car prices.
This list includes mostly mainstream, small and affordable cars as well as efficient electrified vehicles. It shouldn’t surprise that hybrid and electric vehicles have the highest price increases on the used car marketplace, despite fuel prices increasing in recent weeks. Here are the Top 10:
| Top 10 cars rice (YoY). | ||||
Rank |
Vehicle |
Average Car Price (February 20,22) | $ Price Increase from February 2021 |
% Price Increase from February 2021 |
| 1 | Hyundai Sonata Hybrid | $24,913 | $9,457 | 61.2% |
| 2 | Chevrolet Spark | $16,949 | $5,980 | 54.5% |
| 3 | Nissan LEAF | $24,393 | $8,579 | 54.3% |
| 4 | Mercedes-Benz G-Class | $215,946 | $73,963 | 52.1% |
| 5 | Kia Forte | $19,657 | $6,711 | 51.8% |
| 6 | Kia Rio | $17,772 | $6,035 | 51.4% |
| 7 | Kia Soul | $19,824 | $6,442 | 48.1% |
| 8 | Tesla Model S | $80,299 | $25,825 | 47.4% |
| 9 | Toyota Corolla | $21,435 | $6,849 | 47.0% |
| 10 | Toyota Prius | $26,058 | $8,298 | 46.7% |
The Hyundai Sonata Hybrid experienced the largest price increase compared to February 2013. The South Korean hybrid sedan, which costs almost $10,000 more on the used market than last year, is now more expensive than ever. The list’s first six models saw an increase of at least 50%, with the next four following closely.