KBB: Interest in Used Hybrid Cars Rises Right Along with Gas Prices

When gas prices rise, so does consumer interest in hybrid vehicles, according to Arthur Henry, manager of market intelligence and market analyst at Kelley Blue Book.

In fact, Henry noted this concept “reigned true” this month, as used hybrid cars increased 10 percent in share month-over-month, what he called “a direct response to the recent jump in national gas prices.”

In KBB’s October Hot Used Car Report, Henry said, “The primary beneficiary to this amplified interest in used hybrids is the 2010 Toyota Prius, which qualifies as one of the top 10 hot used cars this month."

On the other hand, in general, hybrid cars comprise a small percent of used-car shopping research, as the majority of consumers are till looking for gas-powered rides.

For those still looking for traditional vehicles, the 2010 Nissan Altima is gaining ground with used shoppers. Henry says this rise in popularity is due to “hype surrounding the recently redesigned new model.

“The new 2013 Nissan Altima currently has had a major ad campaign focused on its fuel efficiency. There has been increased shopping activity toward the new Altima, and some of that interest is spilling into the used-car market,” Henry said.

Lastly, the report explained this month there are few more redesigns set to launch that might pump up interest in used models: the new Honda Accord and Ford Fusion are set to hit dealers’ lots before November.

Kbb.com also provided the following charts to illustrates this month's Hot Used Car Report: