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Monday, 01 February 2021 23:03

Analysis: Cities with the Biggest Increase in Used Car Prices

Written by Lattice Publishing
Analysis: Cities with the Biggest Increase in Used Car Prices Sharkshock/Shutterstock.com

Index

...more than 15%. Thirteen of the 15 models with the highest price increases are trucks, with the Dodge Challenger and Chevrolet Camaro the only automobiles that aren’t trucks to crack the list.

 

Local markets also have a strong impact on car prices. Using a proprietary dataset of more than 1.3 million used car listings in the U.S., CoPilot’s researchers calculated the percentage change in used car prices between June and December 2020 for the nation’s largest metropolitan areas.

 

The researchers also calculated the model with the sharpest price increase over the same time period in each metro.

 

Here are the metros with the biggest increase in used car prices over the past year.

 

1. Salt Lake City, UT
Average used car price change: 7.37%
Model with the largest price increase: RAM 1500
Price change for the model with the largest increase: 19%
Population: 1,232,696

 

2. Orlando-Kissimmee-Sanford, FL
Average used car price change: 7.36%
Model with the largest price increase: RAM 2500
Price change for the model with the largest increase: 23.4%
Population: 2,608,147

 

3. Nashville-Davidson–Murfreesboro–Franklin, TN
Average used car price change: 6.56%
Model with the largest price increase: RAM 1500
Price change for the model with the largest increase: 28.5%
Population: 1,933,860

 

4. Miami-Fort Lauderdale-West Palm Beach, FL
Average used car price change: 6.48%
Model with the largest price increase: Ford F-250 Super Duty
Price change for the model with the largest increase: 38.5%
Population: 6,166,488

 

5. Austin-Round Rock, TX
Average used car price change: 6.42%
Model with the largest price increase: Ford F-250 Super Duty
Price change for the model with the largest increase: 27.3%
Population: 2,227,083

 

6. Baltimore-Columbia-Towson, MD
Average used car price change: 6.36%
Model with the largest price increase: Chevrolet Silverado 1500
Price change for the model with the largest increase: 18.3%
Population: 2,800,053

 

7. Jacksonville, FL
Average used car price change: 6.35%
Model with the largest price increase: Toyota Tundra
Price change for the model with the largest increase: 20.6%
Population: 1,559,514