Used hybrid-electric vehicle prices jumped six percent in February, Kelley Blue Book said, adding that used hybrids and fuel-efficient compact cars could see a 20 percent hike in resale values this year.
Need further proof that interest in hybrid and diesel vehicles is directly linked to the average price for a gallon of gasoline? According to CarMax, the largest retailer of used cars in the States, searches for hybrid vehicles on its website are up four percent in June over May while diesel are even hotter with a seven-percent increase. Further, the used car retailer reports that visits to its Fuel Economy section are up by 17 percent.
As we're sure you've noticed every time you've gone to refill your gas tank in the last few months, gas is once again relatively cheap. Just under a year ago, the price for a gallon of fuel was about double what it is today in most parts of the country, and those high costs were driving the sales of hybrids – both new and used – to record levels. Now? Well, not so much.