LOCAL NEWS

Study: Used car prices spike 28.5% in Salt Lake City 

Dec 7, 2021, 2:18 PM
(KSL TV)...
(KSL TV)
(KSL TV)

SALT LAKE CITY – If you’ve purchased a used car in the last year, you know prices are way up in Salt Lake City. A new study from iSeeCars.com showed prices spiked 28.5%, which equated to $7,059.  

That’s higher than the nationwide figures which showed a 27.9 percent increase, or $6,939 compared to last year.   

“Used car prices had drifted down slightly since they peaked in June, but they are back on the rise again, with the average used vehicle priced nearly over $7,000 above where it was last November,” said Karl Brauer, iSeeCars’ Executive Analyst. “With microchip shortage-related plant shutdowns persisting throughout the year, automakers have not kept pace with pent-up demand, and lingering supply constraints that are expected to continue well into 2022.” 

Earlier this year KSL’s Matt Gephardt reported on the declining number of vehicles at used cars lots. The shortage has led to increasing prices. 

Gephardt: Low Inventory Leads To Sticker Shock For Used Car Shoppers In Utah

The iSeeCars.com study showed that the Acura RDX was the car with the highest price increase in Salt Lake City. Other cars in the top five include the Kia Soul, Toyota Corolla, Kia Forte, and Toyota Cambry. 

Nationally, the top five is the Nissan LEAF. It was followed by the Mitsubishi Mirage, Chevrolet Spark, Kia Forte, and the Kia Rio. 

You can read the study here, along with information on cars with the smallest price increase. 

KSL 5 TV Live

Top Stories

Local News

Flowers left for the 17-year-old victim....
Kiersten Nunez, KSL TV

Springville community recovers after two fatal shootings in one week

Tragedy strikes the small city of Springville again as police are investigating a second shooting in a matter of days after the apparent murder-suicide of a 17-year-old girl and her ex-boyfriend.
21 hours ago
Life Light helicopter responding to a SAR in Utah County. (Credit: North Fork Fire Department)...
Michael Houck, KSL TV

Utah County responds to two search and rescue calls over the weekend

Search and rescue crews responded to two separate calls of hikers needing help this weekend in Utah County canyons. 
21 hours ago
The brush fire nearby US-40 just north of Heber. (Credit: Chopper 5)...
Michael Houck, KSL TV

Fire crews battle a large brush fire near US-40, just north of Heber

Wasatch County fire crews are battling a large brush fire just north of Heber next to the State Route 40.
21 hours ago
FILE PHOTO - (Courtesy Deseret News) Three men were arrested on suspicion of firing shots at a Roy,...
Michael Houck, KSL TV

Man fatally shot on front porch in Springville, suspect identified at police department

A man was fatally shot multiple times on his front porch Saturday night with the suspect claiming to be a bystander, according to Springville police.
21 hours ago
An Air Force C-17 Globemaster named “The Spirit of the Candy Bomber” escorted a C-54 to Spanish...
Cary J. Schwanitz, KSL TV

Spanish Fork residents attend tribute to ‘Candy Bomber’

Residents in Spanish Fork remembered Col. Gail Halversen with a reenactment of his legendary candy drop.
21 hours ago
FILE PHOTO...
Cary J. Schwanitz, KSL TV

Motorcyclist killed in Weber County collision

A motorcyclist died after colliding with a station wagon Saturday night in Marriot-Slaterville.
21 hours ago

Sponsored Articles

Earth day 2022...
1-800-GOT-JUNK?

How Are You Celebrating Earth Day 2022? | 4 Simple Ways to Celebrate Earth Day and Protect the Environment

Earth Day is a great time to reflect on how we can be more environmentally conscious. Here are some tips for celebrating Earth Day.
Get Money Online...

More Ways to Get Money Online Right Now in Your Spare Time

Here are 4 easy ways that you can get more money online if you have some free time and want to make a little extra on the side.
Lighting trends 2022...

Lighting Trends 2022 | 5 Beautiful Home Lighting Trends You Can Expect to See this Year and Beyond

This is where you can see the latest lighting trends for 2022 straight from the Lightovation Show at the Dallas World Trade Center.
What Can't You Throw Away in the Trash...

What Can’t You Throw Away in the Trash? | 5 Things You Shouldn’t Throw in to Your Trash Can

What can't you throw away in the trash? Believe it or not, there are actually many items that shouldn't be thrown straight into the trash.
Make Money Online Easily...

4 Ways that You Can Make Money Online Easily in Just a Few Clicks

Here are 4 ways that you can make money online easily in no time at all! Some are as simple as just a few clicks away.
tips to winterize your home...
Bonneville Digital SLC

Tips to Winterize Your Home | The Top 5 Ways You Can Prepare for the Cold Utah Winter Ahead

Before the snow hits, here are the top 5 tips to winterize your home to prepare for the cold Utah winter this year.
Study: Used car prices spike 28.5% in Salt Lake City