skyrocketing prices for used cars, rising faster than almost any other product. it s a major roadblock for consumers who need affordable transportation rehema ellis on what s driving those huge price hikes. normally the lot would be two lines reporter: amir yousef sells used cars in new jersey. and the past two years, he s had less to sell. he blames covid for accelerating the shortage before the pandemic, this lot was typically packed with about 120 used cars. today, there s only 45 we are paying around 30% more for the same car that we used to buy before the pandemic reporter: you have to pass that on to the customer yes reporter: nationwide, the price of a used car has skyrocketed at 37% in the past year. the average cost soaring above $28,000 for the first time ever everybody is frustrated there s a shortage of cars. reporter: in west new york, new jersey,
week found the average worker would need to work five weeks a year to afford the additional costs is there one thing or a series of things leading to a lack of inventory in the used car market there are fewer semiconductor chips, which means there are fewer vehicles being built which means ultimately there are fewer vehicles being sold into the used market reporter: whatever the market has to do, john just wants a car so he and his wife can get back to being involved grandparents. and there s still some growing left to do for our kids. we need to be there. reporter: but in today s market, getting there in a used car may be further down the road. rehema ellis, nbc news when we come back, the message from the past, finally delivered after nearly 80 years