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15 Popular Cars That Have Risen the Most in Price

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Editor’s Note: This story originally appeared on CoPilot.

The U.S. economy is now more than a year into a run of soaring inflation. According to data from the U.S. Bureau of Labor Statistics, the Consumer Price Index has experienced year-over-year inflation exceeding 5% every month dating back to May 2021, and year-over-year CPI growth topped 8% for three straight months this spring. Amid rising prices for nearly every consumer spending category, the U.S. Federal Reserve has begun to sharply increase interest rates to cool the economy. And some economic experts believe that these efforts to combat inflation have the U.S. headed for a recession.

One category that has been most dramatically affected by rising inflation is vehicles. While economists have debated the role of supply constraints and demand-side factors like aggressive government stimulus and high consumer spending in this inflationary period, the market for vehicles has been affected by both.

Pandemic-related manufacturing shutdowns, labor shortages, and supply chain challenges have decreased the number of new vehicles and increased competition for used cars. Simultaneously, consumers have been taking advantage of low interest rates, strong savings and investment returns earlier in the COVID-19 pandemic, and rising wages to finance major purchases including cars and trucks.

As a result, the CPI for new vehicles has risen by 16% since the beginning of 2020, while the CPI for used vehicles is up by more than 50% over the same span.

However, there are some indications that inflation in the used vehicle market may have peaked. Auto industry experts have recently reported an uptick in the number of vehicles available, relieving the supply pressures that have driven prices up.

CoPilot compiled a list of the cars with the biggest jumps in cost — researchers calculated the difference between the current market price and the original pre-COVID-19 price forecast.

Here are popular cars with the highest cost increase since the start of 2020.

15. Kia Soul

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  • Current price premium (%): +51.6%
  • Current price premium ($): +$7,516
  • Current price: $22,080
  • Original price forecast: $14,564

14. Kia Sportage

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  • Current price premium (%): +52.4%
  • Current price premium ($): +$9,393
  • Current price: $27,326
  • Original price forecast: $17,933

13. Ford Fusion

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  • Current price premium (%): +53.1%
  • Current price premium ($): +$8,805
  • Current price: $25,391
  • Original price forecast: $16,586

12. Chevrolet Trax

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  • Current price premium (%): +53.3%
  • Current price premium ($): +$8,103
  • Current price: $23,306
  • Original price forecast: $15,203

11. Chevrolet Malibu

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  • Current price premium (%): +53.7%
  • Current price premium ($): +$8,356
  • Current price: $23,926
  • Original price forecast: $15,570

10. Volkswagen Jetta

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  • Current price premium (%): +54.0%
  • Current price premium ($): +$8,233
  • Current price: $23,482
  • Original price forecast: $15,249

9. Buick Encore

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  • Current price premium (%): +56.0%
  • Current price premium ($): +$8,753
  • Current price: $24,394
  • Original price forecast: $15,641

8. Chevrolet Impala

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  • Current price premium (%): +56.3%
  • Current price premium ($): +$9,727
  • Current price: $26,990
  • Original price forecast: $17,263

7. Nissan Sentra

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  • Current price premium (%): +56.6%
  • Current price premium ($): +$8,461
  • Current price: $23,410
  • Original price forecast: $14,949

6. Nissan Versa

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  • Current price premium (%): +56.6%
  • Current price premium ($): +$7,051
  • Current price: $19,501
  • Original price forecast: $12,450

5. Kia Optima

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  • Current price premium (%): +57.3%
  • Current price premium ($): +$8,632
  • Current price: $23,700
  • Original price forecast: $15,068

4. Kia Forte

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  • Current price premium (%): +59.4%
  • Current price premium ($): +$8,037
  • Current price: $21,565
  • Original price forecast: $13,528

3. Dodge Journey

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  • Current price premium (%): +63.1%
  • Current price premium ($): +$9,975
  • Current price: $25,774
  • Original price forecast: $15,799

2. Dodge Grand Caravan

Aaron of L.A. Photography / Shutterstock.com
  • Current price premium (%): +67.9%
  • Current price premium ($): +$10,940
  • Current price: $27,062
  • Original price forecast: $16,122

1. Nissan Altima

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  • Current price premium (%): +68.2%
  • Current price premium ($): +$9,958
  • Current price: $24,553
  • Original price forecast: $14,595

Methodology

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The data used in this study is from CoPilot’s Price Pulse tool. To determine the popular cars that have risen the most in price, researchers calculated the difference between the current market price and the original pre-pandemic price forecast. Only the 100 most popular used vehicles with available data were included in the study. The data shown reflects pricing data for model year 2020 used vehicles that are currently for sale.

Visit this link for a full list of cars that have risen the most in price.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

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