Prices for Used Pickups are Skyrocketing
We’ve had several reports about skyrocketing lumber prices, well, here’s an indicator worth noting; A recent report on FoxNews says a sharp drop in the supply of new vehicles due to the ongoing chip shortage combined with a strong demand for cars has led to an increase in the prices of used pickup trucks. They report that the average wholesale price for a pickup hit $ 30,093 in mid-April, up from $ 28,121 in March. Putting this into better perspective, in April, 2020 it was $ 17,201.
“This is fundamentally the most extreme demand and supply imbalance that you can envision happening,” Said Manheim chief economist Jonathan Smoke.