Fuel-Efficient Vehicles Up In Sales, Used-Value

Toyota

Sales of hybrid, diesel and small vehicles are rebounding. High gas prices led to a 46% increase in sales of such vehicles in March versus the same month in 2010, says auto analysis firm Baum and Associates.

The firm says small, fuel-efficient cars now account for about the same market share as body-on-frame SUVs, which used to be the toast of the auto market -- before crossovers came and fuel prices started up in 2007.

The firm says first-quarter sales this year were up 13% versus the same quarter last year, while sales of hybrids, clean diesels, and very small cars were up 33.9%, 42.9% and 23.3% for the quarter, respectively. In March alone, per the firm, sales of those vehicles rose 46.4%, 46.1% and 30% respectively.

The firm also says that used fuel-efficient compacts and hybrids like Prius are holding resale value, while traditional SUVs are seeing their value slip.

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The firm says that in March sales of subcompacts like Ford Fiesta and Honda Fit grew by 30%, almost twice the 17% rate of the overall market. In addition, car sales grew a third faster than either "car-like" or "true" light trucks.

Crossover sales growth was driven by smaller crossovers, while truck-based traditional SUVs saw market share drop to 7% of the market, which was the same market share as hybrids, clean diesels, and very small cars.

In the used market, the value of a three-year-old Toyota Prius from January to April 2011 bested other vehicles. Three-year-old versions of the Toyota Corolla, Chevy Cobalt, Ford Focus, Honda Civic, and Nissan Versa also saw their value grow.

Said Alan L. Baum, principal, Baum & Associates, in a statement: "The trends are clear: vehicle sales are strong, and consumers want hybrids, small cars and crossovers, and are shying away from pickups and truck-based SUVs even as business fleets continue to support these products in line with an overall economic recovery."

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