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sed car prices increased in August over July as a result of heightened demand and a shortage of new car inventory from coronavirus pandemic-related production interruptions.

According to iSeeCars.com’s analysis of nearly 1 million used car sales in July and August, used car prices in August saw an average increase of 4.1 percent or $941 compared to July. 

Some vehicle segments had higher price increases than others--namely luxury cars and sports cars--while economy cars and sedans saw price decreases. 

“Dealers don’t need to be as competitive with the pricing of luxury and higher-priced vehicles because shoppers at these price points likely aren’t as bargain-conscious as those looking for more affordable and practical used cars,” said iSeeCars CEO Phong Ly. “Subcompact cars are the lowest-priced used cars available, so it’s likely that shoppers interested in these vehicles are looking for a deal.”




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