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Trouble in SUV City
Yes, I know. Articles normally go in another forum but all we have is a 'preview', not the whole article. It is a "Wall Street Journal" thing:
http://online.wsj.com/google_login.h...googlenews_wsj
Originally Posted by The_Wall_Street_Journal
Auto-Lease Market May Act As Red Flag for Finance Firms
By Lingling Wei Word Count: 790 | Companies Featured in This Article: Ford Motor, General Electric, Bank of America, J.P. Morgan Chase, DaimlerChrysler NEW YORK -- Gary Wong has found used SUVs a hard sell. Higher gas prices have curbed people's appetite for gas-guzzling SUVs in general, says the manager of dealership Platinum Ford in Flushing, N.Y. Even for those still itching to drive big cars, they would rather lease new ones than buy those traded in or coming off leases, thanks to increased leasing promotions and lower maintenance costs of new cars. "I've stopped bidding for midsized and large-sized SUVs at auctions," says the dealer. . . . Bob Wilson |
Re: Trouble in SUV City
Although some people are still buying SUVs, it's no surprise that the higher gas prices go the lower SUVs will become. I know many people who didn't consider mpg when purchasing a car who now put it as a high priority.
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Re: Trouble in SUV City
...Almost as if some kind of market forces are causing a change...
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Re: Trouble in SUV City
Originally Posted by Pravus Prime
...Almost as if some kind of market forces are causing a change...
The 'invisible hand' at work again. <GRINS> Bob Wilson |
Re: Trouble in SUV City
Originally Posted by bwilson4web
LOL!!
The 'invisible hand' at work again. <GRINS> Bob Wilson |
Re: Trouble in SUV City
Yup! And I don't think the SUVs that *do* sell are getting the $7k profit anymore. In Baltimore, I read in the Examiner's back pages where GM dealers are selling huge SUVs and trucks for the same price as a Honda FIT.
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Re: Trouble in SUV City
But if I bought a new SUV now, the dealer will give me a year's worth of free gas. Free gas!
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Re: Trouble in SUV City
http://www.azcentral.com/news/articl...-suv12-ON.html
David Healy, an analyst for Burnham Securities, predicted that the mid-sized SUV - vehicles such as the Ford Explorer, Chevrolet TrailBlazer and Toyota 4-Runner - will be gone in a few years. "There's no excuse in the world anymore for having a truck-based SUV, and the segment is going to go to zero," Healy said. When the SUV was in its heyday in the late 1990s, most people who bought them didn't need a truck with off-road capability, but they purchased them because they were trendy, said David Lucas, vice president of Autodata Corp., which gathers and analyzes auto industry statistics. "The trendiness has passed of having a large SUV," he said. |
Re: Trouble in SUV City
Originally Posted by lars-ss
Wonder what happens when gas is $1.90 again?
Bob Wilson |
Re: Trouble in SUV City
Originally Posted by lars-ss
The problem with that article is that they are factoring in 'need'. Very few Americans buy cars based strictly on 'need'. |
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