The news of Osama Bin Laden’s death by American troops has already caused a rise in the global stock market. Here are CarWoo!, we’re curious how further events in the Middle East will affect already rising car prices over the next few weeks and months.
While new car prices are anything but predictable, we’ve already tracked how rioting in the Middle East and North Africa affected Toyota Prius in February and March. The chart below demonstrates savings on the Prius (a car whose price, logically enough, correlates with with the rise and fall of gas prices) during the first ten weeks of 2011. The highest percentage of savings was reached shortly after turmoil began in Egypt, and soon plummeted to almost no savings with the help of the earthquake and tsunami in Japan.
So how will these new global event affect car prices? If the data above is any indicator, trouble in the Middle East may be a solid predictor of a decrease in car savings. We’ve already marked Sunday with a pin on our price ticker, and we’ll continue to watch price trends over the next few weeks. Keep an eye out for further price info releases from CarWoo!