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Used Vehicle Market Insights – April 2018

by Diminished Value Car Appraiser on April 25, 2018

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.

US-Average-Gasoline-Prices-2018vs2017

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.

Compact-Cars-Price-Increase-

 

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