SUV’s - Nobody Wants Them
Apr 29th, 2008 by gmoran
The plight of the large SUV is the focus on another Associated Press article, “Dealers see glut of gas guzzling SUVs”. Nobody loves ‘em anymore! Not the used car dealers, not the gas strapped public. According to CNW Marketing Research, used SUV sales in March were down 14% compared to last year following drops of more than 8% in Jan. and Feb. Trade-in prices are in free fall, shocking the owner looking to parlay remaining value into a more gas and wallet friendly vehicle. Mike Maroone, AutoNation’s CEO, cites the dramatic drop in used SUV sales and the difficulty in setting a sales value for them. Many more are on the lots for over 60 days and are then being wholesaled at auctions or being shipped overseas. Wachovia Capital Markets analyst Richard Kwas reports that about 75% of a survey sample of 40 auto dealers and managers said they are selling more cars and CUVs than expected. There’s a lot of good deals for the big boys – if gas money is no object!