{"id":837025,"date":"2025-04-14T10:45:41","date_gmt":"2025-04-14T14:45:41","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/carfax-used-car-sales-continue-surging-despite-soaring-prices\/"},"modified":"2025-04-14T10:45:41","modified_gmt":"2025-04-14T14:45:41","slug":"carfax-used-car-sales-continue-surging-despite-soaring-prices","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/carfax-used-car-sales-continue-surging-despite-soaring-prices\/","title":{"rendered":"CARFAX: Used Car Sales Continue Surging Despite Soaring Prices"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n Nationwide Used Cars Are Selling Twice As Fast As This Time Last Year<\/i>\n <\/p>\n

\n
\n CENTREVILLE, Va.<\/span>
\n <\/span>, April 14, 2025<\/span><\/span> \/PRNewswire\/ — Tax Day comes amidst growing economic uncertainty motivating many car buyers to make that big purchase \u2014 a key driver behind the recent surge in sales and vehicle prices. The latest CARFAX data found both car sales and prices are surging well beyond typical seasonal patterns. In fact, this Spring, the surge in used car prices is nearly\u00a0two times<\/i>\u00a0compared to this time last year and the surge in sales is\u00a0more than<\/i>\u00a0twice what we saw last Spring.<\/b><\/p>\n

\n

\n
\n \"CARFAX,
\n <\/a>\n <\/p>\n<\/p><\/div>\n

“We expect this surge in car prices and sales to continue,” said Srinidhi Melkote<\/span>, Vice President of Business Analytics at CARFAX. “The strong new car demand has pushed new car prices up and supply down, leading some consumers to turn to used cars for a more affordable option. This shift in consumer behavior will drive up used car prices as well, creating a cascading effect across the market.”<\/p>\n

In addition to car buyers ready to use their state and federal tax returns for a down payment, the recent spike in car prices is also exacerbated by the worsening used car shortage. According to CARFAX’s Used Car Index<\/a>, the average cost of used Vans and Minivans climbed roughly $800<\/span> nationwide in March, <\/b>with the most significant increases in the Midwest and Mid-Atlantic regions. Nationally, used non-luxury SUV prices saw an average increase of $400<\/span>, and used luxury SUV prices jumped $500<\/span>. This marks a reversal from January, when used car prices for all vehicle types were in decline, hitting their lowest levels since the pandemic.<\/p>\n

“We’re at the front end of a major shift,” said Editor-in-Chief Patrick Olsen<\/span>. “As demand builds and costs continue climbing, buyers should be more strategic to stay ahead in an increasingly competitive market.”<\/p>\n

\n
\n Here are CARFAX’s Top Tips to Help Navigate the Used Car Market:<\/u>
\n <\/b>\n <\/p>\n

    \n
  1. \n Do Your Research<\/b>\u00a0\u2013 Always check the CARFAX Vehicle History Report<\/a> for accident history, service records, and past ownership.<\/li>\n
  2. \n Know Your Budget<\/b>\u00a0\u2013 Explore financing options early and stay open to different makes and models that fit your price range.<\/li>\n
  3. \n Test Drive <\/b>\u2013 Experience the performance, comfort, and features before buying.<\/li>\n
  4. \n Ask Questions<\/b>\u00a0\u2013 Inquire about pricing, recent repairs, and any upgrades.<\/li>\n
  5. \n Get an Inspection<\/b>\u00a0\u2013 Have a trusted mechanic do a pre-purchase inspection.<\/li>\n<\/ol>\n

    Last year, American consumers registered around 16 million new light vehicles and around 38 million used light vehicles, according to S&P Global Mobility, which owns CARFAX. However, with the rate of new car production possibly dropping in the coming months, demand for used cars could rise, leading to even higher prices.<\/p>\n

    \n For the latest used car listings linked to a free CARFAX Vehicle History Report, visit Carfax.com<\/a> or get the CARFAX app to shop New & Used Cars. <\/b>\n <\/p>\n

    \n Editor’s note: Regional car price trends are available upon request. Interviews with a Carfax expert are available anytime. Please contact Em Nguyen at emnguyen@carfax.com<\/a>. The Carfax Used Car Index compares the average price of millions of new and used car listings at Carfax.com<\/a>.<\/i>\u00a0For the latest trends in used car prices, visit Carfax.com<\/a>.<\/i><\/p>\n

    \n About CARFAX <\/b>\n <\/p>\n

    \n CARFAX<\/a>, part of S&P Global Mobility, helps millions of people every day confidently shop, buy, service and sell used cars with innovative solutions powered by CARFAX\u00ae vehicle history information. The expert in vehicle history since 1984, CARFAX provides\u00a0CARFAX Car Listings<\/a>,\u00a0CARFAX Car Care<\/a>,\u00a0CARFAX History-Based Value<\/a>\u00a0and the flagship\u00a0CARFAX Vehicle History Report<\/a>\u00a0to consumers and the automotive industry. CARFAX owns the world’s largest vehicle history database and is nationally recognized as a top workplace by\u00a0The Washington Post<\/i>. Shop, Buy, Service, Sell \u2013 Show me the CARFAX\u00ae.<\/p>\n

    S&P Global Mobility is a division of S&P Global (NYSE: SPGI). S&P Global is the world’s foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets.<\/p>\n

    \n About S&P Global Mobility<\/b>\n <\/p>\n

    At S&P Global Mobility, we provide invaluable insights derived from unmatched automotive data, enabling our customers to anticipate change and make decisions with conviction. Our expertise helps them to optimize their businesses, reach the right consumers, and shape the future of mobility. We open the door to automotive innovation, revealing the buying patterns of today and helping customers plan for the emerging technologies of tomorrow.<\/p>\n

    S&P Global Mobility is a division of S&P Global (NYSE: SPGI). S&P Global is the world’s foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world’s leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information, visit www.spglobal.com\/mobility<\/a>.<\/p>\n

    \u00a0<\/p>\n

    \n \"Cision\" View original content to download multimedia:https:\/\/www.prnewswire.com\/news-releases\/carfax-used-car-sales-continue-surging-despite-soaring-prices-302427708.html<\/a><\/p>\n

    SOURCE CARFAX<\/p>\n<\/p><\/div>\n

    \"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

    PR Newswire Nationwide Used Cars Are Selling Twice As Fast As This Time Last Year CENTREVILLE, Va. , April 14, 2025 \/PRNewswire\/ — Tax Day comes amidst growing economic uncertainty motivating many car buyers to make that big purchase \u2014 a key driver behind the recent surge in sales and vehicle prices. The latest CARFAX data found both car sales and prices are surging well beyond typical seasonal patterns. In fact, this Spring, the surge in used car prices is nearly\u00a0two times\u00a0compared to this time last year and the surge in sales is\u00a0more than\u00a0twice what we saw last Spring. “We expect this surge in car prices and sales to continue,” said Srinidhi Melkote, Vice President of Business Analytics at CARFAX. … <\/p>\n

    Continue reading “CARFAX: Used Car Sales Continue Surging Despite Soaring Prices”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-837025","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nCARFAX: Used Car Sales Continue Surging Despite Soaring Prices - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/carfax-used-car-sales-continue-surging-despite-soaring-prices\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CARFAX: Used Car Sales Continue Surging Despite Soaring Prices - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire Nationwide Used Cars Are Selling Twice As Fast As This Time Last Year CENTREVILLE, Va. , April 14, 2025 \/PRNewswire\/ — Tax Day comes amidst growing economic uncertainty motivating many car buyers to make that big purchase \u2014 a key driver behind the recent surge in sales and vehicle prices. The latest CARFAX data found both car sales and prices are surging well beyond typical seasonal patterns. In fact, this Spring, the surge in used car prices is nearly\u00a0two times\u00a0compared to this time last year and the surge in sales is\u00a0more than\u00a0twice what we saw last Spring. “We expect this surge in car prices and sales to continue,” said Srinidhi Melkote, Vice President of Business Analytics at CARFAX. … Continue reading "CARFAX: Used Car Sales Continue Surging Despite Soaring Prices"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/carfax-used-car-sales-continue-surging-despite-soaring-prices\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-14T14:45:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/2663456\/CARFAX_SP_Logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/carfax-used-car-sales-continue-surging-despite-soaring-prices\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/carfax-used-car-sales-continue-surging-despite-soaring-prices\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"CARFAX: Used Car Sales Continue Surging Despite Soaring Prices\",\"datePublished\":\"2025-04-14T14:45:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/carfax-used-car-sales-continue-surging-despite-soaring-prices\\\/\"},\"wordCount\":821,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/carfax-used-car-sales-continue-surging-despite-soaring-prices\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/2663456\\\/CARFAX_SP_Logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/carfax-used-car-sales-continue-surging-despite-soaring-prices\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/carfax-used-car-sales-continue-surging-despite-soaring-prices\\\/\",\"name\":\"CARFAX: Used Car Sales Continue Surging Despite Soaring Prices - 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