Small used car prices decline as gas prices fall

by detroitnews.com

English: A hybrid car : Toyota Prius Plug-in H...

Washington — Prices for fuel-efficient used vehicles are falling with lower gas prices after hitting high resale values earlier this year, the National Automobile Dealers Association said Tuesday.

After double-digit percentage gains from January through May 2012, prices on many used compact and midsize cars are expected to drop up to 5 percent in June compared to May, said Jonathan Banks, senior analyst with the National Automobile Dealers Association (NADA) Used Car Guide. The trend is expected to continue this summer.

Gas prices are now averaging $3.71 a gallon — down 3.5 percent from a year ago — and well below the $3.94 a gallon national average in April.

“The trend of rising prices for used cars will reverse course in June because of declining gasoline prices combined with a normal seasonal slowdown in consumer demand for used cars,” Banks said.

Read more…

Advertisements

About smartspending5

I am business-minded college student who has a heart for helping others attain emotional independence and psychological stability. My background lies in Broadcasting, network marketing, and Human Services. I believe that crises and extreme stress is necessary for one to grow and figure out what matters in life (Tony Robbins). This keeps me going when frustrations arise in my business. View all posts by smartspending5

One response to “Small used car prices decline as gas prices fall

  • Stevie Chamberland

    Gas prices tend to be at the maximum these days, i genuinely desire that the gasoline rates will be minimized as the economoy and also economic crisis shows improvements..

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: