Sorry, your SUV is now worthless
Thinking of trading your gas-guzzling SUV in for something smaller, a bit more fuel efficient? You are not alone. The rocketing cost of gasoline, and diesel fuel, is having a ripple effect on the SUV market. With consumers trading in their behemoths by the thousands in exchange for more frugal transportation, dealers are stuck with a surplus of unwanted sport-utes sitting on their lots with values dissolving.
Diesel-burning trucks aren't immune either. As diesel fuel costs hovering about fifty cents per-gallon above gasoline, some of the bigger oil-burning SUVs and trucks are losing measurable resale by the day. Overall, according to CNW Marketing Research, used SUV sales were down 14% in March alone. With any surplus, come big discounts. It may be a ghastly time to fill a 30-gallon tank on an SUV, but it is the perfect time to negotiate with a dealer for that seven-passenger family truckster you've been fancying. No need to hurry -- there will be an even better selection tomorrow.
Thanks to Jim for the tip!
[Source: U.S. News and World Report]
Reader Comments (Page 1 of 8)
erth 9:06AM (4/30/2008)
maybe now i will be able to see into the distance instead of the back end of a gas guzzler. good bye gas sucking behemoths.
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Paul H. 9:14AM (4/30/2008)
what he said.
Vintage 9:17AM (4/30/2008)
Good riddance. It's a shame that although the SUVs are going away, the real problem isn't, ie, stupid people. Yep. I just called most of you SUV owners stupid. Because you are. You're materialistic posers, who wanted to trick the world into thinking they didn't need a minivan. Lemmings.
Johnnie 9:31AM (4/30/2008)
I hate to say it...but this is hardly goodbye to big SUV's. There are still millions and millions of them on the road.
No matter the gas prices...some people are going to continue driving their minivans and trucks for utility and or convenience.
You can't tow a boat with a stupid Prius or a minivan.
Pluton 9:48AM (4/30/2008)
I hope your boat shatters into pieces this hurricane season and then you'll have no reason NOT to buy Prius. Ignorace & Arrogance, Priceless.
Tim 9:52AM (4/30/2008)
Know We get back to market fundamentals when people buy cars based on need. I think gas prices and the economy could send large truck/SUV sales down another 30% for the rest of the year. Boat sales and recreational vehicles will also slow so there will be less to tow.
Bah 12:04PM (4/30/2008)
A full size sedan with a V8 tows just fine.
Sam 10:13AM (4/30/2008)
But you can tow a boat and carry 3+ kids in a Dodge Caravan diesel, which is available in Europe. My biggest gripe after my 3 child arrived was the lack of options for NA consumers. The only thing I could fit 3 child seats in was a minivan, and it hurt(s) every time I fill that pig up. I've inquired about getting one of many people movers available in Europe, but it can't be done. Imagine a minivan that gets better mileage than a chevy cobalt, well it's out there, and we can't get it. Postings like this drive me nuts..."In markets outside North America, Dodge Journey offers a modern 2.0-liter turbo diesel engine available with a six-speed manual or six-speed automatic transaxle. ...Maximum power is 140 horsepower DIN (103 kW), and peak torque is 229 lb.-ft. (310 N•m). The engine is expected to deliver excellent overall performance and fuel economy of under 7 liters per 100 km (European combined cycle). A diesel particulate filter is standard from the factory." that's about 34mpg (u.s.), 41mpg (Canada)
MemphisNET 11:24AM (4/30/2008)
I agree, a good percentage of SUV drivers are ''stupid'', cocky, whatever you want to call it. But then there are people like myself that need one. Luckily, I could compromise and I got the Magnum R/T. Lots of room for my family, luggage and towing. I only drive it when necessary, otherwise I'm in the Neon!
I am however looking for a Durango for work. Again, I need big towing, and room for my crew. Just don't hate on me because I need it :p
psarhjinian 12:02PM (4/30/2008)
You can tow a boat with a minivan. Heck, I've see 90hp TDI Golfs in Europe pulling camping trailers that North Americans seem to think require a F-350 dually.
There's another dirty little secret of towing: unless you're a landscaper, you probably don't need to do it every day. You can (and I have) rented hitch-equipped trucks from U-Haul and Discount when I've towed and, with a little planning, most people can do the same. You buy a car based on what you need it to do every day, on average, not something you might have to do a few times during year.
The nice thing about buying cars this way is that, instead of spending money on things like four-wheel drive, larger cabin size or bigger engines, you could spend the same amount of money on something with features that you'll use and appreciate daily, like a quality stereo, great handling, comforable seats and a nice interior.
Seriously, given the choice: a Tahoe, that you'll only need the abilities of twice a year, or a 335i, that you'll love driving every damn day. I know what I'd pick.
Dolemite 7:43PM (4/30/2008)
Although I do not own a suv\truck\cuv or anything like that, I am a bit disgusted at some of these comments. It is usually in such stories that the greenies come out in full force. But the thing is that schadenfreude is definately bad karma. I am all for using as little fuel as possible, as the less money we send to Saudi Barbaria the better it is for mankind.
Plus everyone keeps saying that SUV drivers are the worst on the road, while in my opinion, it is usually the Pontiac drivers who biggest a-holes on the road. But that is just my persona unscientific observation.
Jim 1:22PM (5/03/2008)
I enjoy doing things on a spur without a weeks worth of planning, I like the fact that I can load my ATV in the back of my FULL SIZE TRUCK and not have the whole interior smell like tires!. Oh and i like surviving accidents, It's taken two hits already and it's still going strong, I feel sorry for people in small cars. Best bet keep the SUV and get the econobox to burn out on the daily commute.
Jacob 9:07AM (4/30/2008)
Yeah and your used SUV trade is worth $5000 under book value
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rouse42 8:03AM (5/01/2008)
theres a late model expedition sitting down the street with $4000 in the windshield.
thing retailed around $34k
to bad it gets around 14mpg and now cost approx $.27 per mile in fuel
tankd0g 9:34AM (4/30/2008)
Which means I can finally pick one up cheap!
Ian 10:31AM (4/30/2008)
As much as a I fear repeating history, many of these things will get scrapped prematurely and the steel end up in China. Anyone remember their pre-WWII history?? Who bought up all of our scrap steel and what did they do with it?
Andrew 10:02AM (5/02/2008)
Wow, paranoia much?
Soccer Mom 9:19AM (4/30/2008)
Economics at its best. Let's hope gas goes up to $5, so we can get rid of 5'' tall ladies riding behemoths on their own.
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srivendel 9:28AM (4/30/2008)
Riiiiiight. Because 6'2" tall guys (me) really *need* their Tahoes.
brmacrae 9:30AM (4/30/2008)
Chill out, guys & gals. Some people NEED SUV's/Trucks because of their particular situations. Up here in northern Michigan, where we get a fair amount of snow, FWD + snow tires won't always cut it. My parents had an 06 Odyssey with snow tires that I had to pull out of the driveway more than once, and nobody makes an AWD minivan anymore. We've got a Volvo XC90, which even with the V8 in it, gets 24.5 mpg crusing on the highway at 65mph. My co-worker just bought an '07 Grand Caravan, which gets 21.5 on the highway :)