Why is a used car more expensive than a new car?

It seems to be a common belief that used cars are cheaper than new cars,　though there are some used cars that fetch higher prices than new cars.

This should come as no surprise to anyone who’s gone car shopping lately.

　But why?

Since new-vehicle production stutters caused by the current microchip shortage, more buyers are turning to the used-car market.

Also, fewer new models sold means fewer trade-ins. This has caused prices to elevate to the extent that some pre-owned cars are now commanding higher prices.

Unsurprisingly, the rest of the list consists almost entirely of

trucks, SUVs, and crossovers, with the top five populated by the GMC Sierra 1500, Toyota Tacoma, Mercedes' G-Wagon, and the Toyota RAV4 Hybrid.