The used car models jumping the most in price include mid-size SUVs and mini-vans designed to carry around families.
Used Cadillac Escalades are almost 36% more.
Chevy Suburbans jumped 34% in price.
Dodge Grand Caravans are also seeing a 34% increase.
BMW X5 is 33% higher.
An Acura MDX will run you 29% more.
Wednesday, August 25, 2010
What happens when you destroy 5 million used cars?
This was the supply decrease caused by "cash for clunkers." Predictably, the supply decrease has pushed prices of used cars higher.
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Cash for clunkers as an adverse supply shock in the used car market...
ReplyDeleteHrm, I wonder how many government programs meant to stimulate demand actually function to reduce supply?
The increasing prices of used cars will stop selling used cars in the market.
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