Follow us today...
Used car prices are skyrocketing as customers can't find the new model they want. Consumer Reports says, according to the U.S. Bureau of Labor Statistics, used-car prices have jumped 21 percent since April 2020, and 10 percent of that increase was in April 2021.
The 2021 Subaru Ascent 3-Row family hauler, manufactured at the Subaru of Indiana Automotive plant, is the Camden, N.J. automaker's second-biggest loser, with 10,508 models lost to production shutdowns because of the global chip shortage.
photo credit: Competition Subaru
Along with Outback (23,882 models lost to production shutdowns), it's one of the twenty-eight vehicle models that have lost 10,000 units or more of North American production.
Data from Vroom (leading e-commerce platform for buying/selling used vehicles) reveals the top ten models that have seen the most significant used car increase in the number of appraisals this year. This could affect pricing on used models.
Since the beginning of the microchip shortage, Vroom has seen hundreds of thousands of appraisals, explicitly seeing a 48 percent increase from February to March in appraisals and another 45 percent increase from March to April.
photo credit: North Fort Lauderdale Subaru
The vehicles most affected by the shortage have seen increased appraisals in the last few months. Vroom pulled the rise in appraisals on the most affected vehicles by the microchip shortage, which you can find below.
The rise in the number of appraisals of cars experiencing the chip shortage:
1. Ford Bronco Sport has had a 300 percent increase between February and March and a 325 percent increase between March and April.
2. Ford Mustang a 48 percent increase between February and March and a 237 percent increase between March and April.
3. Ford F-150 a 44 percent increase between February and March, and 198 percent increase between March and April.
4. Toyota Tundra a 40 percent increase between February and March and a 159 percent increase between March and April.
5. Chevrolet Camaro a 71 percent increase between February and March and a 145 percent increase between March and April.
6. Lincoln Aviator a 12 percent increase between February and March and a 117 percent increase between March and April.
7. Subaru Ascent a 54 percent increase between February and March, and 43 percent increase between March and April.
8. Jeep Grand Cherokee a 45 percent increase between February and March, and 40 percent increase between March and April.
9. Ford Explorer a 55 percent increase between February and March and a 38 percent increase between March and April.
10. Land Rover Discovery a 30 percent increase between February and March and 37 percent increase between March and April.
With used car prices rising, a new 2021 Subaru Ascent may be a better buy with no-interest financing available now. What is the cost of the 2021 Subaru Ascent?
The 2021 Subaru Ascent comes in four trim levels. Base has a starting MSRP of $33,345, Premium ($35,845), Limited ($40,645), and Touring ($46,495) trims. Prices include $1,050 destination and delivery fees.
With the 2021 Subaru Ascent production shutdowns recently, supplies are limited, and used model prices are rising. It may be best to buy a new model now if you can find the color and trim level you want.
You Might Also Like: Consumer Reports Still Gives The New Subaru Ascent A Failing Grade
Denis Flierl has invested over 30 years in the automotive industry in a consulting role working with every major car brand. He is an accredited member of the Rocky Mountain Automotive Press. Check out Subaru Report where he covers all of the Japanese automaker's models. More stories can be found on the Torque News Subaru page. Follow Denis on Facebook, Twitter, and Instagram.
Subaru Report - We’ve got you covered! Check back tomorrow for more unique, informative SUBARU news, reviews, and previews you can trust.
Leave your comments below, share the article with friends and tweet it out to your followers!
Photo credit: main image North Fort Lauderdale Subaru
Follow us today...
