The Edge has been a really well received vehicle, and though it’s been pretty popular all along, newer models have sold well. That can help pull up the resale value of earlier model years.
GMC Envoy and Chevrolet Trailblazer
Envoy and Trailblazer prices had dropped a fair amount when gas prices went up so high in 2008 because they’re truck-based SUVs that didn’t get great mileage. They got so cheap that they became a good buy on a used car lot, but now they’ve come back in price.
The Equinox and other vehicles of its size and type, like the Ford Escape and Toyota RAV-4, have seen a surge in the marketplace. When the Equinox got redesigned for 2010, it just sold like gangbusters, so older ones have held their value as well.
It’s a small vehicle, and of course small vehicles are more popular now because of their fuel efficiency. And it’s such an inexpensive car that its price didn’t have to change a huge amount for it to experience a nice increase this past quarter.
Again, prices on this one dropped so much a couple of years ago when gas prices went so high. The Durango is bigger than some of the vehicles it got cross-shopped with, like the Ford Explorer and Chevy Trailblazer, so it’s got more cargo and seating area and greater towing capacity. It also competes well against vehicles like the Ford Expedition and Chevy Tahoe, because it’s cheaper.
Dodge Grand Caravan
This is just such a versatile vehicle. It rides well, with good visibility and functionality, and you can take the seats out for cargo, or leave them in for the family. That makes this vintage of Grand Caravan, the last before Chrysler redesigned it for 2008, popular on used car lots right now.
Some SUV’s have come back in price, as people have quit worrying about gas prices as much, and have begun looking for that functionality again. It’s going to be interesting to see how the new Explorer performs when it comes out in the fall. It will have better fuel economy, and it’s going to be built on a car chassis, but they’re still calling it an SUV, and they say it will still have considerable towing capability.
The domestic car market came back pretty well this spring, and interest in this good-sized sedan seemed to go up about midway through the tax season. The Charger taps into Dodge’s muscle car heritage, and appeals to people largely for that reason.