Friday, May 23, 2008

A Ray of Hope in this Recession

LOS ANGELES, California (CNN) -- Jorge Fernandez strolls across the used-car parking lot littered with dozens upon dozens of sport utility vehicles the size of small tugboats.
SUVs like these are having a tough time selling with gas prices at all-time highs. With gas at $4 a gallon, many have sat there since last summer.
"The cars are literally just sitting, and it doesn't matter how much you sell them for," Fernandez says of the SUVs and trucks nobody wants anymore.Fernandez, a wholesale auto dealer who has been in the business for more than 20 years, says SUV owners are hit especially hard. The really large ones with V-8 engines that can get as little as 12 miles per gallon in the city -- like the Cadillac Escalade, Ford Expedition and Chevy Suburban -- are dropping in value by the thousands.

I say it's an ill wind that blows no good. This is one happy piece of news coming out of this recession. SUV's are the highest level of conspicuous consumption. To have them disappear would be cause for celebration. Hope they take the Hummer with them.

1 comment:

Christopher Tassava said...

I love this. I love it all the more for the fact that it sticks it to so many who have contributed to the SUV craze - drivers who pilot those behemoths, the gas companies who fuel them, and especially the car companies who built the cars.