Automobile

Will Used Car Prices Rise Due to a Lack of Inventory? | MotorBiscuit

Most automakers like Toyota and Hyundai showed record car sales for the first quarter of 2021, especially in comparison to 2020. Also, new car sales are up. As we move through the second quarter, will used car prices continue to rise? Experts think so.

Hyundai, Kia, Toyota reported record car sales

Used car sales are up significantly over 2020, as are new car sales | Justin Sullivan/Getty Images

According to Automotive News, both Hyundai and Kia had quite the month. In March, volume rose 47% to 66,523 units sold. That was a 16% rise for the quarter. For Hyundai, volume rose an astonishing 115%. That was an increase to 75,403 units sold.

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