The semiconductor chip shortage has had a massive impact on the production of new automobiles, which has in turn sent the prices of used vehicles soaring to new record highs with each passing month. Most all used vehicle prices have risen drastically in recent months, though some have been impacted more than others. The Lincoln Navigator is chiefly among those heavily impacted models, as prices of used examples of the luxury SUV have outpaced the market average recently, and that trend hasn’t let up, according to new data from iSeeCars.
The organization’s latest list of the top 10 used vehicles with the greatest price increases once again has the Lincoln Navigator ranked, this time bringing up the rear of the list in tenth place. The average price of a used Navigator came in at $66,726 in November, which is a whopping $18,476 or 38.3 percent more than one year ago.
“The Lincoln Navigator was fully redesigned in 2018, which was its first full redesign in over a decade,” said Karl Brauer, iSeeCars Executive Analyst. “With this redesigned model coming off-lease for the first time in 2021, and as the luxury full-size SUV market has boomed, buyers are clearly willing to pay more for this in-demand vehicle than its previous version.”
In its latest analysis, iSeeCars looked at over 1.9 million used vehicle transactions from last month and found that used car prices increased by 27.9 percent, or $6,939, as a total market. “Used car prices had drifted down, slightly, since they peaked in June, but they are back on the rise again, with the average used vehicle priced nearly over $7,000 above where it was last November,” Brauer said. “With microchip shortage-related plant shutdowns persisting throughout the year, automakers have not kept pace with pent-up demand, and lingering supply constraints that are expected to continue well into 2022.”