X5 / SUV Prices going up (or down?)

[myamin]

Since I bought our '04 X5 in February of '08, I have been meeting the used car dealer who is a friend and countryman and discussing prices in general. Right after my purchase the prices dropped by more than %15 but then stabilized. This I attributed to rise in Gas prices followed by people becoming accustomed to it.

Then, recently he was telling me that X5 prices in particular have increased by about 10% since I purchased (that is 25% increase from low) because of low prices given low dollar value and demand in countries like Saudi Arabia who buy from Boston and ship overseas.

For example, a 2001 with 100K+ miles sells for just below $15K, where it used to be around 11 or 12.

Thought you want to know.