Used Corvettes are worth $26,000 more than they were new last year. Here are 8 more used cars that gained value since 2020.

2020 Chevrolet Corvette_KL_24
2020 Chevrolet Corvette.

  • Used-car prices are at record highs, and prices on some models are spiking.
  • CNN analyzed Edmunds.com data to compare new retail prices in 2020 with used retail prices in 2021.
  • The Corvette saw the biggest gain of nearly $26,000, due in part to fewer new ones being made.
  • See more stories on Insider’s business page.

The used-car market is at record highs, especially for popular styles that are nearly new.

Normally, a car loses as much as a quarter of its value in its first year, but a CNN analysis of Edmunds.com data found that a few models have actually increased in value since leaving dealers’ lots.

The comparison looked at new retail prices in 2020 and used retail prices in 2021 to see which cars were worth more, and a few had increased so much that their trade-in value was more than the original sale price.

Here are nine models that have gained the most value in the past year.

Subaru Impreza +$224

Subaru Impreza
Subaru Impreza.

2020 New: $22,614

2021 Used: $22,838

Subaru’s Indiana plant was temporarily shut down because of the chip shortage, and larger, more profitable models like the Outback and Ascent may have taken precedence.

Kia Telluride +$1,433

2020 Kia Telluride.
2020 Kia Telluride.

2020 New: $42,609

2021 Used: $44,042

Kia struck gold with the Telluride, its extremely popular three-row SUV, but production has not been able to keep pace with demand.

Honda Civic +$1,740

2020 Honda Civic Si
The 2020 Honda Civic Si.

2020 New: $22,709

2021 Used: $24,449

If you traded in your year-old Honda Civic, you would get just $1,200 less than you paid for it, or just $100 per month of ownership. That’s not bad.

Jeep Wrangler +$3,193

2020 Jeep Wrangler Rubicon EcoDiesel
The 2020 Jeep Wrangler Rubicon EcoDiesel.

2020 New: $44,341

2021 Used: $47,534

American drivers can’t get enough of the rugged Wrangler.

Toyota 4Runner +$3,802

2019 Toyota 4Runner
Toyota 4Runner.

2020 New: $43,403

2021 Used: $47,205

The iconic 4Runner helped make SUVs the most popular category of all. Enough said.

Chevrolet Camaro +$4,638

2020 Chevrolet Camaro LT1
Chevrolet Camaro LT1.

2020 New: $37,879

2021 Used: $42,517

Camaro production was curtailed in order to direct the available chips to higher-profit-margin vehicles like trucks and SUVs.

Dodge Challenger +$5,754

2020 Dodge Challenger sports car
2020 Dodge Challenger R/T Scat Pack.

2020 New: $41,766

2021 Used: $47,520

Like the Camaro, new Challengers weren’t able to dodge the chip shortage.

Ram 2500 +$6,668

dodge ram

2020 New: $56,768

2021 Used: $63,436

The CNN report attributed part of the increased demand for heavy-duty pickups to an increase in sales of campers and RVs. A Ford F-250 is also now worth more in trade than it sold for new.

Chevrolet Corvette +$25,812

2020 Chevrolet Corvette_KL_31
2020 Chevrolet Corvette.

2020 New: $81,425

2021 Used: $107,237

Production of new Corvettes has been interrupted this year by supply-chain problems, but notably not due to the semiconductor shortage that has impacted other makers.

 

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Taiwan launches its first stealthy ‘carrier killer’ corvette as it strengthens its defenses against China

Taiwan navy corvette
A Tuo Chiang-class corvette during an official ceremony in Yilan, Taiwan, Decemebr 15, 2020.

  • The new corvette, Ta Jiang, is armed with anti-ship missiles and stealth technology that will allow it take out much larger vessels.
  • The domestically produced warship, along with a new high-speed minelayer, are part of a programme to develop Taiwan’s asymmetric warfare capacity.
  • Visit Business Insider’s homepage for more stories.

Taiwan has launched its first missile corvette designed to take down an aircraft carrier as it seeks to bolster its defences against a possible attack from mainland China.

The new “carrier killer,” along with a high-speed minelayer launched earlier this year, was domestically produced and designed to play a key role in the island’s asymmetric warfare strategy to counter the much larger force the People’s Liberation Army can muster.

Beijing, which considers Taiwan part of its territory and has not renounced the use of force to return it to its control, has ramped up the pressure against the island since President Tsai Ing-wen was elected in 2016 and refused to accept the one-China principle.

At a ceremony to launch the new corvette – named the Ta Jiang – at a shipyard in Suao in northeast Taiwan on Tuesday, Tsai said the new ships were a sign of Taiwan’s determination to defend its waters and promote the local defence industry.

“In countering the enemy’s threats … in constructing our defensive power, we should employ the concept of asymmetric warfare to deter incoming attacks from the enemy,” she said.

The corvette – which has a displacement of 700 tonnes and a top speed of 45 knots (83km/h) – uses state-of-the-art stealth technology to avoid detection and is equipped with subsonic missiles that can destroy targets on land or sea, such as an aircraft carrier. It can also operate in shallow or coastal waters where larger vessels such as destroyers and frigates find it hard to operate.

Taiwan Hsiung Feng missile
A Hsiung Feng III missile on display during Taiwan’s national day parade, in Taipei, October 10, 2007.

Huang Shou-chen, chairman of the Lung Teh Shipbuilding Company, which built the new corvette and minelayer, said both were equipped with powerful home-grown weapons systems.

“[The Ta Jiang] is equipped with Hsiung Feng (Brave Wind) II and III anti-ship missiles and Hai Chien (Sea Sword) II anti-aircraft missiles developed by the [government-funded] Chung-Shan institute,” Huang said, referring to the National Chung-Shan Institute of Science and Technology.

The corvette is also equipped with 76 mm cannons, Phalanx close-in weapons systems and T-74 machine guns.

“It is designed to counter the PLA ships by employing hit-and-run tactics and with its stealth function and high mobility, it is difficult to track,” said Chieh Chung, a national security researcher at the National Policy Foundation, a think tank of the main opposition Kuomintang party.

He said the same applied to the as-yet-unnamed minelayer – which could drop mines very quickly and make it very hard for enemy ships to attack the coast – and both ships fit perfectly well with Taiwan’s asymmetric defence strategy.

Huang said the minelayer, the first in a batch of four, was fitted with an intelligence system designed by the Chung-Shan Institute that automatically planted mines at high speeds.

According to the navy, the Ta Jiang is the first of three corvettes that will be built under a NT$31.6 billion (US$1 billion) programme. The ship is expected to be ready for delivery to the navy next year, with the last following by 2025.

The warship was equipped with one of the world’s most technologically advanced computer systems and built partly with high-entropy metal alloys for extra strength and durability, it said.

Its stealth technology and low radar cross-section make the ship virtually invisible at sea and even more difficult to detect when operating close to the coast, and the navy said it was designed to take over many of the missions now undertaken by larger, less manoeuvrable and more expensive frigates and destroyers.

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