Gas prices hurting car sales

May 29, 2008 5:10:43 PM PDT
The gas crisis is teaching Americans a harsh lesson that bigger isn't always better.

SUV's --once the must have vehicle-- has now turned into everyone's kryptonite.

Chris martin has been selling cars for 15 years. SUV's and pickup trucks used to be king of his used car lot, but not anymore.

Skyrocketing gas prices has turned the used car market upside down.

"We're seeing more and more folks leaning towards the compacts and subcompacts," Martin said.

Any used car salesperson can tell you nightmarish stories about $45,000 king cab pickup trucks loosing 80 percent of their value in less than 18 months.

While smaller cars with better gas mileage cost more and are becoming harder to find.

"As far as the whole sell and the retail prices I think you're seeing the smaller cars jump and of course you're seeing the SUVs and pickup trucks drop. In fact the SUVs and pickup trucks have dropped probably around the 20 percent range," Martin said.

Now when people come to car lots not only are they looking at the price, but they're also looking at the miles per gallon.

But not everyone is kicking the SUV to the curb. Wendell Mims has his mind set on a gas guzzler.

"My preference would be an SUV. I know gas prices are kind of high, but the style and the comfort, you can't really be picky about it. You just have to watch what you do, how your travel, where you go," Mims said.

However, some dealerships are no longing excepting SUV's as trade-ins.


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