You may have heard car sales are on the up and up in the U.S. In fact, according to this Bloomberg article, the U.S. auto market is honing in on its fifth straight year of growth. This has only happened one other time since WWII from 1996 to 2000 when over 16 million cars were sold a year.
After the government initiated “cash for clunkers” in 2009 there was a shortage on used cars causing prices to skyrocket. In fact, by 2012 used car prices were at historic highs, since then however, prices have begun to drop.
In just 2013 alone, a Mojo Motors study on the prices of 18 used vehicles reveal a drop of nearly $1,000 since May. Out of those 18 vehicles, only the Ford F150 increased in price by a mere $41.66. Perhaps it’s because the Ford F150 continues to be the most popular truck in America and one of the most popular used cars on Mojo Motors.
See the complete findings below.