Used Car Prices Hit New Highs as Market Shifts Lock In Expensive Inventory
Edmunds data show the average price of a 3-year-old used car in Q2 hit a record $32,461, driven by a persistent post-pandemic shortage, trim inflation, and a skew toward higher-trim models. As affordable options age and carry more miles across price bands, buyers face a tougher market even as new cars stay expensive. Cross-border trade rules and tariff talks under USMCA complicate supply, potentially pushing automakers toward automation and reshaping where cars are built.