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Archive for Sunday, July 12, 2009

Demand for trucks rises as gas prices fall

July 12, 2009

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— A year ago, with gasoline selling for more than $4 a gallon, drivers abandoned their gas-guzzling trucks and large SUVs for high-mileage compacts. Now, with prices in the $2.50 range, they’re going back to the big guys, at least in the used-car market.

That sharp U-turn in buying habits has led to a 5.8 percent increase in the price of used cars in the past year — including a 16 percent spike since the beginning of the year — and a shortage of the kinds of vehicles drivers were unloading last summer, according to the Manheim Used Vehicle Value Index.

The biggest price gains since last June were for pickup trucks (up 27 percent) and sport utility vehicles (25.8 percent), while compacts fell almost 10 percent and midsize cars were off by 3.4 percent.

The index has risen for six consecutive months, reaching a 22-month high.

Comments

Confrontation 4 years, 9 months ago

There will always be idiots who have to prove themselves by driving big trucks. If everything else in your life is so small that you have to make up for it by purchasing a big truck, then that's pretty sad. It's a complete waste of resources if the truck isn't being used for business purposes. Oh, and the whole "safety" issue is highly entertaining. Check out the safety of a Ford F-150 versus some smaller vehicles.

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SettingTheRecordStraight 4 years, 9 months ago

There will always be a high demand for the safety and utility afforded by larger vehicles. This despite a push by environmentalists to place us in cars which are far less safe and far less practical.

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