These are the 10 models for used cars whose prices rose the most in May

Used car prices rose an average of 17% in May, with prices of alternative fuel cars rising higher than petrol prices, iSeeCars.com said this week.

Prices of electric cars rose almost 38%, while prices of hybrid cars rose 32% year-on-year. Sports cars and pickup trucks were the cars that saw the smallest price increases, iSeeCars.com said.

The May price increases follow a 24% increase in April, marking the fourth consecutive month of price declines for used cars.

Shopping for used cars has given people one of the biggest sticker shocks of the pandemic, with persistent shortages of semiconductors and auto parts limiting the supply of new cars and pushing more people to the used car market.

The used car platform CarLotz Inc. LOTZ,
-4.07%
late Tuesday blamed the difficulties in finding used cars to sell across their platform as one of the reasons for reducing their staff and closing shops.

The analysts at iSeeCars.com have compiled a list of cars that see the highest price increases:

Uncredited

The Nissan Leaf used to be the highest-grossing car on the market, said iSeeCars.com analyst Karl Brauer. The rise is likely to go hand in hand with rising gas prices, as well as “increased desirability” for the redesigned 2018 model of the car that offers more range and is now coming out of leases to enter the used car market, he said.

Request for used versions of Tesla Inc.’s TSLA,
+ 1.04%
The Model S had been in demand for the past few months as consumers went for Tesla’s Model 3 sedan and the Model X full SUV, Brauer said.

“But the long wait times for new versions of the Model S, which include March 2023 at its earliest for the base model, have driven consumers to the used market,” he said.

iSeeCars.com said it analyzed sales of about 2 million used cars in the 12 months to May, comparing average list prices and excluding non-manufactured cars, heavy vehicles and other outliers.

See also: How the pandemic used cars turned into a hot commodity


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