Some prices for used 2020 cars are close to the original starting MSRP for example, the 2020 Nissan Altima starting MSRP was $24,300 before delivery charges. Some 2020 Altimas are selling for $24,533. The 2022 Kia Forte is selling for over its original $20,035 starting MSRP at $21,565. Many lower-priced entry-level vehicles that are two years old are selling near or for more than their original starting MSRP. Auto Connected Car News added the original starting MSRP to the chart below to see the difference.
Copilot Research calculated the difference between the current market price and the original pre-COVID price forecast for model year 2020 used vehicles currently for sale
The CPI for new vehicles has risen by 16% since the beginning of 2020, while the CPI for used vehicles is up by more than 50% over the same span.
Here are the popular cars that have risen the most in price. The original starting MSRP is listed next to the model.
| Model Year 2020 Original Starting MSRP | Rank | Current price premium (%) | Current price premium ($) | Current price | Original price forecast |
|---|---|---|---|---|---|
| Nissan Altima – $24,300 | 1 | +68.2% | +$9,958 | $24,553 | $14,595 |
| Dodge Grand Caravan -$27,530 | 2 | +67.9% | +$10,940 | $27,062 | $16,122 |
| Dodge Journey – $23,675 | 3 | +63.1% | +$9,975 | $25,774 | $15,799 |
| Kia Forte – $20,035 | 4 | +59.4% | +$8,037 | $21,565 | $13,528 |
| Kia Optima – $23,390 | 5 | +57.3% | +$8,632 | $23,700 | $15,068 |
| Nissan Versa – $14,830 | 6 | +56.6% | +$7,051 | $19,501 | $12,450 |
| Nissan Sentra – $19,310 | 7 | +56.6% | +$8,461 | $23,410 | $14,949 |
| Chevrolet Impala – $31,620 | 8 | +56.3% | +$9,727 | $26,990 | $17,263 |
| Buick Encore – $23,200 | 9 | +56.0% | +$8,753 | $24,394 | $15,641 |
| Volkswagen Jetta – $18,895 | 10 | +54.0% | +$8,233 | $23,482 | $15,249 |
| Chevrolet Malibu – $22,140 | 11 | +53.7% | +$8,356 | $23,926 | $15,570 |
| Chevrolet Trax – $21,300 | 12 | +53.3% | +$8,103 | $23,306 | $15,203 |
| Ford Fusion – $23,170 | 13 | +53.1% | +$8,805 | $25,391 | $16,586 |
| Kia Sportage $23,990 | 14 | +52.4% | +$9,393 | $27,326 | $17,933 |
| Kia Soul $17,490 | 15 | +51.6% | +$7,516 | $22,080 | $14,564 |
| Top 100 models (median) | – | +40.6% | +$9,736 | $33,876 | $25,415 |
Starting MSRPs are searched via Google and mostly taken from cars.com information from when the vehicle was released.
However, there are some indications that inflation in the used vehicle market may have peaked. After reaching an all-time high in January 2022, used car prices fell for each of the next three months. While prices rose again slightly in May, the CPI for used vehicles remains below its peak from earlier this year. Auto industry experts have also recently reported an uptick in the number of vehicles available, relieving the supply pressures that have driven prices up.
For more information, a detailed methodology, and complete results, you can find the original report on CoPilot’s website: https://www.copilotsearch.com/