CNW marketing research used car price report

According a new study by CNW Marketing Research, used car prices have dropped by 8 percent since May. Rising gasoline prices are the reason why used SUV prices are down the most.

In addition to rising gasoline prices, other reasons why used car prices are coming down include robust new vehicle sales in the summer due to employee discount programs and other incentives.

However, gasoline prices are the most visible reason why used car prices are going down, especially among SUVs.

In fact, according to CNW Marketing Research, used SUV prices came down a full 6 percent in the month of August alone.

However, used car dealers see the SUV prices repounding during the colder months, as first signs of winter driving could boost the prices four-wheel-drive vehicles.

Also, overall, used car dealers see some recovery in prices as replacement car sales due to Hurricane Katrina continue.