According to a report from the Wall Street Journal's Ginger Adams Otis, the Dodge Grand Caravan, Nissan Versa and Toyota Prius have seen the "biggest percentage increases in average transaction prices" for three-year-old vehicles.
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The Lede
In the past, it was often expected that cars more than a couple of years old would depreciate substantially in value; not so in 2022. For prospective buyers in the market for a used vehicle, there are certain vehicles that have surged substantially in price.
Key Details
- The Wall Street Journal's Ginger Adams Otis crunched the numbers provided by automotive research firm Edmund's and found that the Dodge Grand Caravan had surged the most among three-year old used cars, up 69% percent from last year.
- The Nissan Versa was close behind with a price surge of 66% from the previous year.
- The Toyota Prius, which has previously been found to depreciate much less than its non-hybrid peers, was shown to surge 61% more than last year.
| Make | Model | Category | January 2021 Value | January 2022 Value | Percent Increase |
|---|---|---|---|---|---|
| Dodge | Grand Caravan | Minivan | $ 15,227 | $ 25,789 | 69% |
| Nissan | Versa | Subcompact car | $ 9,842 | $ 16,366 | 66% |
| Toyota | Prius | Compact car | $ 17,869 | $ 28,758 | 61% |
| Kia | Forte | Compact car | $ 12,008 | $ 18,928 | 58% |
| Volvo | S60 | Luxury midsize car | $ 21,502 | $ 33,647 | 56% |
| Chevrolet | Sonic | Subcompact car | $ 11,913 | $ 18,473 | 55% |
| Mazda | 3 | Compact car | $ 15,011 | $ 23,140 | 54% |
| Audi | A6 | Luxury midsize car | $ 31,272 | $ 48,066 | 54% |
| BMW | i3 | Luxury compact car | $ 21,034 | $ 32,115 | 53% |
| Kia | Rio | Subcompact car | $ 11,182 | $ 16,937 | 51% |
Source: Edmund's
The Source
There’s inflation, then there’s Dodge Grand Caravan-type inflation.
— Carl Quintanilla (@carlquintanilla) February 15, 2022
(via @WSJ) @Anthony https://t.co/oWExhVyFWj pic.twitter.com/qlDo2NzPGJ
