Consumers are shelling out more on used vehicles this summer, especially if the new-to-them ride is an electric/hybrid or luxury vehicle.

That’s according to the latest Carfax Used Car Index, which showed widespread year-over-year used-vehicle price increases this month.

The largest was for used hybrids and EVs, whose prices in July were up close to $1,900, or 6.3%, from a year ago, Carfax said in its report.

Used vehicle prices for luxury SUVs and luxury cars each showed year-over-year gains exceeding $1,600.

Used pickup trucks increased roughly $1,000 (or more than 3%) from a year ago, the report indicated. Similarly, used SUV prices climbed a little more than $1,000 from July 2024, a 4.4% increase, Carfax said.

“Back in July 2024, prices for used vehicles were falling in nearly every segment. Now, we’re seeing big year-over-year increases,” Carfax editor in chief Patrick Olsen wrote in the report.

Hybrids/EVs were also the price increase leaders across each of the eight regions of the U.S., as well.

Hybrids & EVs led the Mid-Atlantic, Northeast, Plains, Southeast and West. Luxury SUVs led the Midwest and Southwest. Luxury cars had the steepest price gain in the South, Carfax said.

In the wholesale market, EVs are leading the pack in terms of price increases this month, as well.

July mid-month data from Cox Automotive’s Manheim Used Vehicle Value Index shows that wholesale EV prices were up 6.8% year-over-year mid-month, compared to a 2.3% gain for non-EVs.

Back on the retail side, compared to June, luxury cars showed the biggest increase (close to $350), while vans/minivans had the steepest decrease (more than $350), according to the Carfax report.

Pickup truck prices climbed approximately $340 and luxury SUV prices were up nearly $200.

SUVs (down $50), cars (up $100) and hybrids (up roughly $130) showed moderate sequential changes.

“The average price for every nationwide segment rose from last year but monthly used-car prices seem to be leveling off,” Olsen said.