It happened the last time fuel prices were sky high right before the last recession (2007/08). You could pick up any gas guzzler for peanuts, including Landcruisers. The price of used fuel-sipping cars went up and were in high demand. Then the bottom fell out when oil prices shrank down and you couldn't give a small car away, a cycle that repeats itself. There is an abundance of oil underground, it's the moron's above ground that drive the prices up with stupid energy policies.
One was a market crash. If you look the market for expensive used cars tanked too.
Quite the opposite now.