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Gas Prices Driving Consumer Interest

CarGurus’ first quarterly review of 2026 shows that affordability concerns are continuing to drive consumer purchases with a shift to more fuel-efficient options.

April 7, 2026
red car at a gas station being filled with gas. Efficiency Drives Demand. Providers and Administrators logo

Sales of nearly new used vehicles rose nearly 24% year-over-year to a median price of nearly $30,000.

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A first-quarter report on used-vehicle sales reveals a shift in consumer interest to nearly new used vehicles and fuel-efficient alternatives as gas prices rise and new-car prices remain high.

According to the CarGurus data, sales of nearly new used vehicles, those 2 years old or younger, rose nearly 24% year-over-year.

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With that segment's median price sitting at about $30,000, consumers have more options than among new vehicles, whose under $30,000 share dropped 4% year-over-year to 13%.

Vehicles priced around $20,000 saw the largest sales growth, the Chevrolet Trax leading with an average list price of $21,000 for an eye-popping 267% year-over-year sales growth.

But older used vehicles also reported sales growth in the quarter. Sales of vehicles 8 to 10 years old were up 4%, and vehicles 11-plus years old grew 7%.

New-car sales started off the year slow with a market days' supply of about 73 in March, up almost 10% year-over-year. Vehicles at higher price points are sitting longer, CarGurus said. For example, those in the $70,000 to $80,000 price range languished for about 88 days.

New hybrids had the tightest supply at about 47 days, well below gas, battery-electric and plug-in hybrids, which the report pointed out could limit hybrid sales growth due to lack of inventory to satisfy the demand.

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Used EVs, however, experienced sales growth in the quarter, the Tesla Model Y, Hyundai Ioniq 5 and Chevrolet Equinox EV leading the surge.

If gas prices stay high, CarGurus predicts that the EV and hybrid interest that started in March could settle into a sustained trend, close on the heels of recent automaker pullback on purely electric model production.

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