7.3%

gary_in_neenah

gary_in_neenah

Super Moderator
Staff member
7.3% That's how much the price of used car and truck prices have increased in the last year according to the U.S. Labor Dept. Locally we've had two pre-owned businesses close in recent weeks due to a lack of inventory. I traded mid-size pickups back in April. The dealer offered me above Blue Book value and my old vehicle sold after two days on the lot. I guess the craziness continues. Any thoughts?
 
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xcr440

Well-known member
Searching for a V6 6MT Accord Coupe for my son, and the prices are crazy. A car with 40k on it going for almost what I paid brand new 5 years ago. Doesn't help that its a unicorn, but still.
 
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slimcake

Well-known member
wirev said:
2017 Silverado's with 40000 miles are going for more than they the original MSRP! 40-45M
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<br>
<br>Yep paid 41000 for my 17 1500 silverado crew cab and was offered 42 for it.  Could trade for 8k.  IIIIIFFFFFFFFF you could find a truck.....
 
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xcr440

Well-known member
Yeah, that 7.3% can't possibly be right with these numbers, and some others I've seen. Let's get that chip maker up and running in Sconnie! Weren't they supposedly going to get that done a few years ago?
 
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slimcake

Well-known member
xcr440 said:
Yeah, that 7.3% can't possibly be right with these numbers, and some others I've seen. Let's get that chip maker up and running in Sconnie! Weren't they supposedly going to get that done a few years ago?
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<br><br>Oh boy you had to bring up that up...  da fox<br>
<br>
 
gary_in_neenah

gary_in_neenah

Super Moderator
Staff member
I should have posted this with the original. The document is dated 6-10-21

CONSUMER PRICE INDEX – MAY 2021
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 percent in May on a
seasonally adjusted basis after rising 0.8 percent in April, the U.S. Bureau of Labor Statistics reported
today. Over the last 12 months, the all items index increased 5.0 percent before seasonal adjustment; this
was the largest 12-month increase since a 5.4-percent increase for the period ending August 2008.
The index for used cars and trucks continued to rise sharply, increasing 7.3 percent in May. This
increase accounted for about one-third of the seasonally adjusted all items increase. The food index
increased 0.4 percent in May, the same increase as in April. The energy index was unchanged in May,
with a decline in the gasoline index again offsetting increases in the electricity and natural gas indexes.
The index for all items less food and energy rose 0.7 percent in May after increasing 0.9 percent in
April. Many of the same indexes continued to increase, including used cars and trucks, household
furnishings and operations, new vehicles, airline fares, and apparel. The index for medical care fell
slightly, one of the few major component indexes to decline in May.

 
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Hoosier

Well-known member
gary_in_neenah said:
I should have posted this with the original. The document is dated 6-10-21

CONSUMER PRICE INDEX – MAY 2021
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 percent in May on a
seasonally adjusted basis after rising 0.8 percent in April, the U.S. Bureau of Labor Statistics reported
today. Over the last 12 months, the all items index increased 5.0 percent before seasonal adjustment; this
was the largest 12-month increase since a 5.4-percent increase for the period ending August 2008.
The index for used cars and trucks continued to rise sharply, increasing 7.3 percent in May. This
increase accounted for about one-third of the seasonally adjusted all items increase. The food index
increased 0.4 percent in May, the same increase as in April. The energy index was unchanged in May,
with a decline in the gasoline index again offsetting increases in the electricity and natural gas indexes.
The index for all items less food and energy rose 0.7 percent in May after increasing 0.9 percent in
April. Many of the same indexes continued to increase, including used cars and trucks, household
furnishings and operations, new vehicles, airline fares, and apparel. The index for medical care fell
slightly, one of the few major component indexes to decline in May.
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That makes more sense, but it's up 7.3% in May compared to April, not compared to May last year - i.e., a one month increase instead of a 12 month increase.
 
ddhanna

ddhanna

Active member
5% year over year, 7.3 for vehicles:

The consumer price index, which represents a basket including food, energy, groceries, housing costs and sales across a spectrum of goods, rose 5% from a year earlier. Economists surveyed by Dow Jones had been expecting a gain of 4.7%.
 
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mysledblows

New member
According to NADA my Ram is worth about 5k more than I paid for it 2 years ago with an additional 30ish thousand miles on it. Crazy times...
 
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slimcake

Well-known member
Micky D's ceo on the business show this morning.  Box chicken went from 40 bucks to 130 bucks.  ANyone got any ideas what would cause that??????  I think the same thing as lumber prices.  Price gouging.  Isn't there some guberment agency that is supposed to protect the consumer??  Oh thats right there is shortages....
 
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chunk06

Active member
No surprise with the amount of cash they pumped into the economy with the stimulus checks and PPP "loan" BS. I was looking up companies that did not miss a beat and had a great 2020 and was floored what they got, Of course you're not going to lay anyone off when you are as busy as ever. When your payroll is taken care of you might as well buy a new truck lol. Car sales were busy as ever and my locally owned GM dealer got 1.1 million lol
 
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1fujifilm

Well-known member
rp7x said:
I have a 2016 z71 with less than 30000 any offers ? It’s a double cab red on red
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Put the vin into carvana and get a no hassle quote, then decide if you want to sell it. Show it to local Chev dealer and they are likely to write you the same money on the spot.

Bear
 
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