Over the last six weeks, compact cars are up 3% in value. Small car segments, as well as medium sedans, have outperformed the market this month.
One indication to the reason is the increase in Gasoline prices.
Below is a chart outlining the gas price increase this year versus last year.
Compact cars see continued strength in the market, helped by rising gasoline prices. Compact car values have increased by over 3% in the last 6 weeks.
Gasoline price has risen by $0.23 per gallon since the start of the year. This is driven by rising crude oil prices due to a reduction in global inventories. In addition to a stronger spring-selling season this year, the rising gas price is helping to fuel demand for compact cars.
Compact Cars in Demand:
• Volume-weighted, overall car segment values increased by 0.29% last week. In comparison, the values had increased on average by 0.20% per week in the previous two weeks.
• In cars, the Mid-Size Car and Compact Car segments increased the most in value last week.
• Volume-weighted, overall truck segment (including pickups, SUVs, and vans) values decreased by 0.04% last week. In comparison, the values had decreased on average by 0.14% per week in the previous two weeks.
• In trucks, the Sub-Compact Crossover segment increased the most in value last week.