Compact and more fuel efficient car resale values are up, while truck and SUV resale values are falling according to Automotive Lease Guide Inc.
While this is not news to anyone who's been paying attention, the size of the drop may be shocking. Compact cars with high fuel efficiency, including hybrid cars, rose 5 percent, while full-size pickups and SUVs and midsize SUV fell 8 percent.
Cars like the Fit and Aveo saw a rise of 10 percent and 9.3 percent, respectively, in predicted resale value from last year. The Ford Expedition and Chevy Suburban saw their predicted resale value fall by 12.2 and 9.5 percent, respectively.
NADA has said for every $1 increase in gas, pickups value drop by $2,200 while compact cars go up by $980.
Maybe those people who made a run on selling their trucks and SUVs at the beginning of the gas hikes knew what they were doing.
Wednesday, July 30, 2008
Truck and SUV Resale Values Fall, Compacts and Hybrids Are Rising
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