134.2, 135.3, 133.9. Are these numbers I picked out of a hat? NO. These are the prices we are seeing at the pumps.
How are we coping? According to Bill Visnic, analyst and senior editor at Edmunds' autoobserver.com there has been a spike in drivers trying to unload their gas-guzzling SUVs and a ripple effect in the small used car market. Visnic notes that in addition to the gas situation, the shortage of parts in Japan because of the earthquake and tsunami have added to pressure on car prices. In addition, the fact that the economy is improving is sending all used car prices higher, not just for small cars.
Also, in wake of production stoppages in Japan incentives from Japanese brands have evaporated and price increases are being seen even of rival models that would be the closest substitutes for these Japanese brands.
- Parts Shortage
- Japanese Automobile Shortage
- High Gas Prices
- Prices of used cars Increasing