Edmunds Reports Summer 2020 Increase in Used Car Prices Bucks Historic Seasonal Trends

Since we don’t sell cars here at Pacific Motorsports, and only pay occasional attention to this market, we found the following rather surprising.

Data collected by the online car buying guide Edmunds reports that used car prices of all types of vehicles increased last month. They called it, “an unprecedented historical shift in the used vehicle market, where listing prices typically decrease during this time period due to depreciation.”

Factors driving this change include increased consumer financial responsibility (keeping debt levels low) and decreased new car availability due to Covid-19 related production shutdowns.

As always, Pacific Motorsports is here to safely service your BMW or MINI, so that you may enjoy that which you already own, and avoid this unique and abnormally high market.

We respectfully remind everyone to wear a mask when visiting our facility. Thank you.

 

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