If you are an owner of a used car that is taking up space in your garage or driveway, there is good news in your forecast. According to Iseecars.com, used car prices in June spiked to 32.7 percent, or $7,583 higher, compared to last year.
The reason for the dramatic rise is a semiconductor chip shortage, which is impacting car manufacturers around the world. Semiconductor chips are commonly found in electronic devices and provide functionality ranging from computing to memory storage. During the pandemic, manufacturers of the chips experienced shutdowns and a dramatic slowdown in orders for the semiconductor chips. As the economy rebounds, supply simply cannot keep up with the demand. Many industry leaders are predicting the shortage will last well into 2022 and even extend to 2023.
So, what models are seeing the greatest price increase?
Luxury cars, sports cars and pickups are seeing price increases from 1.2 to 1.5 times the average vehicle’s price. Used cars typically do not appreciate in value, but this summer is proving just the opposite. The vehicles that have the greatest price increases are:
- Nissan LEAF
- Mercedes Benz G-Class
- Chevrolet Camaro
- Lincoln Navigator L
- Ram Pickup 1500
- Lincoln Navigator
- Audi A5
- GMC Sierra
- Ford Mustang
- Chevrolet Spark
Understanding what your vehicle is valued at when selling or trading, and what you can expect to pay when you are purchasing a vehicle, can ensure you get the most value for your dollar in either situation. Should you be one of those car owners whose vehicle has appreciated and you are ready to trade or sell, you must first get your vehicle in sales worthy condition.
Quick and Effective Reconditioning Companion
Restoring a used vehicle before you can sell it for top dollar can be a challenge. The money you spend fixing dings or dents, detailing your vehicle to pinnacle condition, and advertising to attract a buyer may be of little benefit when interior odors remain. Consumers demand a clean car that doesn’t remind them of a previous owner, and off-putting smells are always a deal breaker.
There are numerous stinky sources hiding in a vehicle’s air-conditioning ducts and prior to our patented technology, there was no easy way to remove odor safely and effectively in minutes. At the touch of a button, the NuVinAir Cyclone activates and releases a vapor that travels into the vehicle’s HVAC system and throughout the cabin-space. NuVinAir’s suite of odor elimination products for car dealers and rental companies, including the highly effective ReStore treatment, which eliminates the most stubborn odor, including those caused by smoke and pets, will attack every square-inch of a cabin. In minutes, the interior is restored to OEM-like conditions and feels healthy and factory-fresh. Yes, it’s really that easy. To find a dealership or detailer near you that offers NuVinAIr’s suite of odor elimination products, click here.
About NuVinAir Global:
NuVinAir Global is a privately held, Dallas-based company providing healthier commutes for drivers and passengers around the world. They deliver a ‘Total Health’ product line that utilizes sanitization science and a patented cleaning process to dealerships, rental car companies, and other automotive businesses. NuVinAir’s patented ReStore and ReFresh treatments are used to clean the interior air of the vehicle, including the HVAC system, and remove contaminants, odor, and pollutants by dispelling a dry, hygienic vapor that reaches places that sprays and wipes simply cannot. Products and programs are sold through its franchisees, who own protected rights to their defined territories. For more information, visit NuVinAir.com and follow them on Twitter, Facebook and Instagram.