Junk car prices in the United States rose by 55% in 2021 due to the supply chain shortage which delayed many new vehicles from being released in the United States.
Will the same demand continue in 2022? The answer to this question is most likely yes as the supply chain problem continues to present problems for automotive manufacturers.
Average Price For Junk Car Increased By $170.85 In 2021
If you wanted to sell a junk car in 2021, you likely were shocked to find that you could get more money for that car than you could in 2020. This is thanks in large part to a microchip shortage in the United States which has delayed the production of new vehicles and caused some auto manufacturers to release vehicles without microchips.
With the chip shortage, some buyers are settling for older vehicles, even junk cars, if they can keep those vehicles on the road.
Besides people who are willing to continue driving older vehicles, junk car prices are also rising because many people are buying them to part them out since individual parts on most Oregon vehicles are worth far more than they were just two years ago.
What To Expect In 2022
Now is a great time to sell your junk vehicle for top dollar since prices are only predicted to continue increasing this year so if you have one or older vehicles to sell, you should sell them in 2022.
As with anything in life, the demand for junk cars may return to normal within months but, with an economy that’s on the verge of a recession, along with inflation, we may likely see similar demand for junk vehicles for at least another year or longer.
Contact Cash For Cars 24
If you’re ready to get rid of your junk car, contact us today by calling (888) 913-5816 or click here to connect with us online.