Friday, May 09, 2008

Finally, a scarcity of greater fools?

High fuel prices are causing the value of used SUVs to plummet, often below what's listed in the buying guides many shoppers use to negotiate with dealers.

As a result, some new-car buyers think they're getting cheated by dealers who are offering them little for their SUV trade-ins.

...

...(W)holesale prices on big SUVs such as Chevrolet Tahoes, Ford Expeditions and Toyota Sequoias are down 17% from a year ago. Full-size pickups have fallen as much as 15%...

The NOCHA hits just keep coming. I just don't feel sorry for the soccer moms and machismo dads dropping $120-plus to fill their Bulgemobiles, or the dealers who shelled out serious green to build Hummer dealerships, or the Detroit execs who happily supplied them with rolling three-ton barns wrapped in juvenile fantasy.

Am I smug? Sure. I put my money where my smugness is -- in the form of a deposit on one of these almost a year ago:




11 Comments:

Blogger esoder said...

See- they were right all along - the free market works. Higher gas prices are causing changes to behavior that will benefit the environment.

And it's working out the obesity epidemic as well with higher food costs.

1:20 AM  
Blogger bluememe said...

I agree somewhat with the first, though I am afraid it will be too little, too late.

But I have real reservations about the second -- in general I suspect people don't eat less, they eat crappier. Healthy food is more expensive than McFood. The people who now can't even buy that are, I suspect, not the recently obese ones.

7:52 AM  
Blogger Will said...

I feel the same way about Soccer moms and NASCAR Dads driving around in their "Bulgemobiles"

I can't help but smirk when someone complains about filling their SUV.

2:43 PM  
Blogger esoder said...

At the Safeway in Clearlake, Healthy Foods have become more prominent and Organic foods are going on sale at Club Card prices. Cheap foods are only cheaper because they are subsisdized. And higher oil prices, according to what I've been reading recently, is closing the price gap between organic and non-organic foods.

1:25 AM  
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