The coronavirus pandemic has raised the price of used cars : The Indicator from Planet Money Since April, the price of used cars has surged. Some cars have even gained in value, which is highly unusual for an asset that usually depreciates. Turns out the usual suspects are behind this mystery: supply and demand.
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The Case Of The Soaring Car Prices

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The Case Of The Soaring Car Prices

The Case Of The Soaring Car Prices

The Case Of The Soaring Car Prices

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  • <iframe src="https://www.npr.org/player/embed/933497794/933557900" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
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Justin Sullivan/Getty Images
SAN FRANCISCO, CA - JUNE 09: A used car with a for sale sign (Photo by Justin Sullivan/Getty Images)
Justin Sullivan/Getty Images

The coronavirus has put millions of people out of work, cratered the economy, and has put the United States into a recession. It has also sparked a number of unexpected economic trends.

Camila Domonoske from the NPR Business Desk joins the show to share her reporting on the price of used cars, which has gone through the roof over the last eight months.

Camila talks with us about the economic forces of supply and demand that have caused vehicles, the classic depreciating asset, to rise in price.