SUVs Going Down in Value, Filling Up Used Car Lots due to Gas Prices

Praise be, y’all, sports utility vehicles are going down in value. Are people actually learning a lesson, here? SUVs are flooding the used car market as people realize that the behemoths are unnecessary, stupid environment killers – no, scratch, that, it’s because of gas prices. Well, whatever works, right?

Ridelust has it:

Most owners who go to a car dealership looking to trade their current ride in for something new usually come out shell-shocked when they learn what the dealership is willing to give them for their trade. Those choosing to turn in their SUV right now will certainly be finding their trade-in value far from what they had invisioned.

According to CNW Marketing Research and the AP SUV sales were down 14% in the month of March when compared to March of 2007. The darling SUV of the American Auto Industry no longer sparkles under the looming clouds of $4/gallon fuel prices. In the face of such a decline in value the only solution for many SUV owners looking to downsize may be to sell their vehicle themselves; a task many owners dread. Even diesel trucks are not immune to the declines in value.

All this has GM concerned that their ‘Green Car of the Year’, the Chevrolet Tahoe 2-Mode Hybrid will suffer a similar fate. The Tahoe Hybrid might get more miles to the gallon, but the $10,000-$15,000 markup probably doesn’t make it worth the cost, especially when depreciation is taken into consideration.

Don’t make any sudden moves, people. We are slowly sliding toward the edge of common sense and responsibility, but we don’t want to scare these SUV-loving folks into realizing they’re actually doing something good for the environment. They’re cringing as they trade in their cars, waiting for the chorus of I-Told-You-So’s, and rubbing it in could well make them want to keep their suburban monsters out of pure spite. The idea of doing things like those fruity Your-a-Peein’s doesn’t sit well with Middle America, no sirree.

Link [RideLust]

Photo credit: Flickr user reedbiotch

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