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SUV Trade-In Values Plummet — Carectomy - Removing Cars from People

SUV Trade-In Values Plummet

by Joshua Liberles on May 16, 2008

SUVsPlummet SUV Trade-In Values PlummetThe ripple-effects of soaring gas prices are continuing to spread – in fact, they’re turning into waves. More people are “getting on the bus” and using mass transit, riding their bikes, and changing their driving habits. Consumers are largely convinced that the rising prices are here to stay, and likely will only get worse.

Another outcome of increasingly expensive fuel: people are scrambling to ditch their inefficient SUVs. From Earthfirst:

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?

And the Associated Press reports:

Used SUV sales in March were down 14 percent nationally compared to last year, according to data compiled by CNW Marketing Research. That follows drops in used SUV sales of more than 8 percent for the first two months of the year, compared to the same months in 2007.

That trend has sent used SUV prices plummeting, giving owners a shock when they try to trade theirs in and find out how little they can get.

It sometimes takes an economic impetus for people to do the “right” – in this case green – thing. Frankly, I’m shocked as I watch how all-pervasive are the effects of the relatively minor fuel price increases we’ve seen. When gas prices in the U.S. resemble the rest of the world, our mass transit infrastructure, preference for smaller, more efficient cars, and support of cycling are sure to follow suit.

See also:
U.S. Car Sales Crash in 2008
Higher Fuel Costs Create Healthier Habits
Mainstream Media Covers Gas Crisis, Mass Transit Spike, and Changing World
Completing the Circle: Gas at the Pump, War in Iraq, and Global Warming

Photo via flickr by fensterbme.

 

Related posts:

  1. 1.3 Billion Chinese Trade Bikes for Buicks
  2. New Research: Gas Prices and Behavioral Tipping Points
  3. Higher Fuel Costs Create Healthier Habits
  4. When it Snows, Toronto Values Cars More than People
  5. U.S. Car Sales Crash in 2008

{ 2 comments… read them below or add one }

1 Clinch June 29, 2008 at 12:41 am

Personally, I think the scale should be the other way round (clean being 0 [as in zero-emissions] and the bar representing the amount of pollution) like the EU energy label.

Also, does this take in to account the pollution from manufacture (including the mining and refining of raw materials [or not if they're recycled]) and from transportation?

Because if not, then choosing a vehicle with a higher score may not actually be better for the environment.

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2 Nathan Hurst July 1, 2008 at 5:28 am

One thing I don’t like about these arbitrary scales is that they tend to inflate. There is continuous pressure to relax the ratings, so everything moves up. Secondly, the fact that a current car gets 9/10 already suggests that there is nowhere to go and no encouragement to improve the state of the art.

Better is to simply measure the true costs and print those.

Reply

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