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Although shoppers continue to flock toward pricier trucks and SUVs, steadily rising gas prices are beginning to stimulate consumer demand and increase residual values for smaller vehicles.
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The national average price of unleaded gasoline jumped 5 cents to $2.49 per gallon in the first week of 2018 and has reached a level not seen since 2014 during the week that starts the new year, according to AAA.
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Consumer confidence is expected to continue to rise, resulting in potential shift to larger vehicles in the U.S. and Canada, thanks to low oil prices.
Read More →Despite predicting that new-vehicle sales will rise above 2014 levels, the vehicle information site believes 2015 will be the slowest year for sales growth since 2009.
Read More →On the strength of SUV sales, average transaction prices for light vehicles rose slightly in October. Leading the way was Ford and its F-Series line of trucks.
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