NADA Used Car recently reported that as a result of the high demand for trucks, used pickup prices are increasing.
"June closed out the first half of the year with average auction prices of used vehicles up to 8 years in age nearly equal to last year's level," said Jonathan Banks, executive automotive analyst with the NADA Used Car Guide. "Given the stability observed in used-vehicle prices year-to-date, we expect to close out the year with prices essentially unchanged from the historically high average of $15,664 in 2012."
The report showed that while prices for compact utility vehicles fell 1.5 percent and midsize cars slipped 1.2 percent from January to June, prices for used full-size pickups jumped 7.7 percent.
As a separate report from United Press International will show, truck sales have been strong for some time, causing prices to rise. According to the report, trucks have been selling three times faster when compared to the rest of the automotive industry. In addition, the top two vehicles sold this year have been trucks, the Ford F-Series and the Chevrolet Silverado.