Why are used car prices skyrocketing?



Automotive expert Mike Caudill provides insight on electric vehicles and used cars on ‘The Bottom Line.’

Subscribe to Fox Business! https://bit.ly/2D9Cdse
Watch more Fox Business Video: https://video.foxbusiness.com
Watch Fox Business Network Live: http://www.foxnewsgo.com/

FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York – the business capital of the world – FBN launched in October 2007 and is one of the leading business networks on television, having topped CNBC in Business Day viewers for the second consecutive year in 2018. The network is available in nearly 80 million homes in all markets across the United States. Owned by FOX Corporation, FBN is a unit of FOX News Media and has bureaus in Chicago, Los Angeles, and Washington, D.C.

Follow Fox Business on Facebook: https://www.facebook.com/FoxBusiness
Follow Fox Business on Twitter: https://twitter.com/foxbusiness
Follow Fox Business on Instagram: https://www.instagram.com/foxbusiness

source

27 comments

  1. My property taxes on my used car went up last year because it's value went up. Property taxes on used cars are suppose to go down!

  2. Biden is destroying America 🇺🇸

  3. GM has thousands of Silverado trucks sitting in lots in Fort Wayne, IN. The supply and demand argument does not hold water here. The prices are being pushed up in order to force people to choose electric over gasoline. Complete BS. Your fun car limits our range of motion and burns down houses. This is not ready for primetime.

  4. I have a 4 year old Chevy Spark. Small, and with a man tran, it's now worth $8K MORE than when I bought it new. 😮

  5. Boycott all car manufacturers and dealerships. Tell them to stick it. This government right now and big business do not care about blue collar middle class America.

  6. You can take your electric vehicles and shove them deep up your crevase Sleepy joe

  7. THE INFLATION IS A GLOBAL ISSUE, NOT BECAUSE OF BIDENOMICS. CURRENT INFLATION WAS CAUSED BY THE COMBINATION OF TRUMP CREATING A GLOBAL PANDEMIC BY DRAGGING HIS FEET DURING THE INITIAL COVID OUTBREAK, THE EVER GIVEN – THE QUARTER MILE LONG EVERGREEN CONTAINER SHIP RUNNING AGROUND AND BLOCKING THE SUEZ CANAL ON 3/23/2021, AND THE TINY WEAK DICTATOR VLADIMIR PUTIN INVADING UKRAINE.

  8. Because the intelligent majority don't want electric junk don't tell occasional
    cortex biden team: 😳🤪🤓🤓🤡

  9. Greed in car market, housing including rental housing.

  10. Bidenomics and his inflation is why they are up, oh his supply issue and labor issues post COVID… Trump 2024.

  11. Joe is quickly adapting to communism. The average American won’t be able to afford a car. Nobody will own a house and a 10 year wait for an apartment

  12. Only idiots are buying them probably the same idiots that voted for Biden and democrats

  13. Every thing is skyrocketed prices, ??? 10% for the big guy, america is destroyed, soon we all going back to living in the primitive day's, living in bamboo hut's, hunting for our daily meat, and gathering berries for desert, traveling around on horseback, ✌️🤧

  14. wasnt the pics they show of cars in field from a ride sharing scam in china

  15. Because nobody wants a new car for 100k. Prices will plumit. Just wait it out.

  16. There are no supply chain problems. That is 3 years old. The companies are making EVs to stroke the Fed, and no one is buying them so of course gasoline cars are going up in price. The reason no one is buying them is not charging stations. No, they don't work. You cannot do long distance travel unless you allocate a couple extra days for charging time. You cannot haul heavy loads. They don't work in the mountainous West or cold northern states. They don't work offroading. They are specialty vehicles for big cities, but there you could take public transportation.

  17. Look up who "brokered" a $6,000,000,000 deal for the Chinese to buy cobalt mines in Congo.
    That will explain why Biden is pushing for everyone to buy EV's.

  18. No one has Money… why we needed to stop… creating cars….
    If Lucky. Got a Career. And a steady salary…. can buy a car…

  19. Why ? That's easy ….CNN has been telling us that the inflation battle is being won and prices of used cars have " turned the corner " …..simple . Thay're not actually increasing in price …that's a made up statistic .

  20. Rainstorms… blowing up… ev …

  21. Electric cars are fast? Really.

  22. Buy a used car frm an auto auction then add $2k-$3k & save a ton of $$

  23. Don’t forget about how we bailed them out just so they could produce less and charge more and lay people off… and increase their c suite salaries.

  24. Keep voting death-n-taxes and soon you won’t be able to afford to eat!! Between inflation, taxation, and regulations forcing prices for everything to skyrocket without the other factors causing inflation, we’ll all need 2 full time jobs for each person just to survive!!

  25. Take your electric car and shove it where the Sun doesn’t shine!!!
    VOTES HAVE CONSEQUENCES!

  26. As mentioned it’s not just used cars but everything in this country has gone up close to that figure. I live on Phoenix. News did a segment and in 2 years it had gone up 30% more just to live here. My car and home insurance went up 50%, food, beverage, interest rates, whatever you want to think of has gone up and wages have not.