Buyers Traveling Across the Country, Paying Record Prices for Used Pickups
By Phil LeBeau
…Welcome to the hottest market in the auto business right now. There is so much demand for used vehicles, especially full-size pickup trucks, some buyers are traveling hundreds of miles to get what they want; regardless of the prices…
Tom Kontos, chief economist for KAR Global Analytics Research, who has tracked wholesale used vehicle prices for more than 20 years, calls this is the hottest market he’s ever seen.
“In the space of two months, prices went from double-digit declines to double-digit gains, and have stayed high since June,” he said. In August, KAR Global reported the average price for a full-size pickup hit a record high of $21,557. That’s up $5,166, or 31.5%, since February.
Read more on CNBC.com.