Guest post by Charlie Dowling-Jones in association with findthebestcarprice.com
Analysis of Google search data reveals that searches for ‘sell my car’ in the U.S. exploded 222% from September 2022 to an all-time high in U.S. history. Economist Stephen Roach said that the U.S. needs a miracle to avoid a recession, in a recent CNBC interview.
The analysis, by car buying experts findthebestcarprice.com, reveals that searches for ‘sell my car’ exploded to over three times the average volume in September, an unprecedented increase in people searching for ‘sell my car’. The data also reveals that searches for ‘how to sell my car’ and ‘sell car’ skyrocketed 145% and 104%, respectively, in August.
Between 25 August and 01 September, searches for ‘sell my car’ spiked by 177% on August 28th, as the Federal Reserve announced more interest rate increases are to go ahead, further increasing corporation’s prices at the expense of American households. Searches for ‘sell my car’ increased by an additional 15% on 04 September, as the U.S. Labor Department announced that the unemployment rate has risen from 3.5% to 3.7%.
The ten states with the highest level of search interest in the term ‘sell my car’ over the past 12 months are:
5. South Carolina
A spokesperson at findthebestcarprice.com, commented on the findings:
“The U.S. has already dealt with rising bills over the past few months due to inflation and the soaring costs of gas. Now, as experts such as Stephen Roach are predicting that a recession is looming, consumers are having to make cutbacks in order to save money. Google Trends data reveals that more households are looking to sell their car to bring in some extra income. We will likely see this trend continue if the cost of living remains high and the U.S. continues negative growth into the fall.”