It"s been a an extremely strange year, to say the least. One of the an ext interesting phenomena to come out of the pandemic the 2020 is that provided trucks (and used vehicles in general) have become more valuable than ever before before. The cause is the weird combination of short dealer inventory of brand-new vehicles due to an international supply and manufacturing shutdowns, and also lack of trade-ins and buyers gravitating toward much less expensive vehicles as plenty of people"s incomes room in flux. These determinants have all combined to reason the price of offered trucks come climb fairly substantially.
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A new report out from the folks at iSeeCars.com reflects that used vehicles have increased in price by an median of 9.5 percent in October of 2020 versus one year prior. Pickups exceeded that typical with boost in price of 14 percent, which quantities to an increase of $4,413 native the year before. Minivans saw the the smallest increase, just 2.0 percent, while convertibles boosted by a whooping 27.2 percent.
Of the truck segment, it was the ram 1500 that saw the largest rise in price year end year. Buyers of provided Rams paid an median of 21.9 percent more, or around $5,911. The GMC Sierra 1500 clocked in next with boost of 19.7 percent or $6,380. Next complies with the Toyota Tundra with a 17 percent rise or $5,535 much more than a year prior. The last pickup on the iSeeCars.com top-10 list is the Chevrolet Silverado, which saw a 16.6 percent rise or around $4,876.
The typical sales price that a used Ram 1500 registered in ~ $32,841, while the typical for the GMC Sierra 1500 came in at $38,750. Used Toyota Tundras sold for an mean of $38,046, and the Chevrolet Silverado 1500 average $34,245.
To arrive at this information, the folks in ~ iSeeCars.com analyzed an ext than 1.2 million used car sales from model years 2015 to 2019 in October 2020, and over 1.3 million used car sales from version years 2014 come 2018 in October 2019. The median listing price of each model were compared in between the 2 time periods. Heavy-duty pickups were excluded, unfortunately.
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All said, it"s definitely still a seller"s market. When the iSeeCars.com study just goes back to the 2014 model year, we have the right to say the we"ve watched trucks indigenous the beforehand 2000s listing and selling for several thousand dollars more than they did a year prior. So, if you"ve been thinking of selling, this might just it is in the finest time to offer it a go.