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Used car prices fell in May, but electric and hybrid cars rose



There’s a light at the end of the tunnel for those looking for buyers old car, According to a recent study. Although the average price of a used car increased by 16.9% in May 2022 compared to May 2021, this is down from 23.9% in April 2022 and fell for the fourth consecutive month.

Demand for mixture and electric models have driven the industry average up, according to the website iSeeCars. Cost of a used one tram and one used tram increased 37.7% and 32.1% respectively, while the cost of a non-electric car increased by 16.3% in May 2022. It is fitting that many cars have the lowest price increases. also among the most in-demand cars: the top five positions have already gone to Chevrolet Camaro (0.3%), Ford F-150 (3.0%), Nissan Armada (3.2%), Nissan Titan XD (3.9%) and Toyota Tundra (4.1%).

Sonata Hybrid of Hyundai leads the charts: its average price is pegged at $26,358 in May 2022, up 47.8% ($8,530) from May 2021. Second place goes to Nissan Leaf with a 41.4% increase ($7,829). However, it is clear that not all buyers put efficiency at the top of their list. Average level used Mercedes-Benz G-Class priced at $204,649 in May 2022, up 35.7% ($53,868) from May 2021. Several factors are influencing this trend, according to the report. iSeeCarsincluding waiting time G-Class Now is more than a year.

Interestingly, some body styles have bucked that trend – and they’re not the usual suspects. While the industry average for used car price growth in May 2022 stood at 16.9%, hatchbacks, wagons and sedans (three models that we consistently guarantee that Americans don’t want) increased by 23.7%, 23.5% and 22.2%, respectively. On the other end of the spectrum, the average cost of a pickup increased by just 6.3%.

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