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Used-Car Prices Surge to $31,000 Amid Supply Crisis

10/9/2025

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Summary

Story summary

Used-car prices for 3-year-old vehicles rose to over $31,000 in 2025, up from about $22,000 pre-pandemic.
Supply-chain disruptions and pandemic-era demand helped drive the price surge.
Automakers prioritized higher-end models, narrowing affordable used-car availability.
New-car sales fell from 16–17 million annually (2014–2019) to 13–14 million (2020–2022), reducing future used-car supply, while demand remains strong.

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Story summary

Used-car prices for 3-year-old vehicles rose to over $31,000 in 2025, up from about $22,000 pre-pandemic.
Supply-chain disruptions and pandemic-era demand helped drive the price surge.
Automakers prioritized higher-end models, narrowing affordable used-car availability.
New-car sales fell from 16–17 million annually (2014–2019) to 13–14 million (2020–2022), reducing future used-car supply, while demand remains strong.