Demand for used hybrid vehicles has softened, reports Automotive News
and Kelley Blue Book
While hybrids were commanding top guidebook prices and above in summer 2006, used Priuses are wholesaling for $500 to $1000 below Kelley Blue Book prices, reports a Toyota dealer in Henderson, Nev.
A 2004 Toyota Prius that wholesaled for $20,400 in July-August is going for $19,250 in November-December, according to Kelley Blue Book.
Hybrid cars have better used values than hybrid SUVS, says Alex Rosten from Edmunds.com, as gas mileage improvements for cars is more pronounced than those for SUVs.
The report says that the potential cost of hybrid replacement batteries remains a concern, though this has not affected resale prices yet. There have been virtually no battery failures reported, and the manufacturer’s warranties are still in effect.
Sales of new hybrids continue to climb. Through the first 10 months of 2006, 211,134 hybrids have been sold in the United States, up 23.1 percent over the same 10 months of 2005.