Gas Prices Are Influencing Car Sales
Gas prices are up to $3 a gallon, a driver’s worst nightmare. Even though it isn’t much more than $2.95, it seems like it to motorists. It is predicted that gas will reach $4 a gallon by summertime.
Sales of large vehicles are being affected. This is especially true of large SUV’s and pickup trucks. For example, Chevrolet has noticed a major drop in sales of the Suburban and the Tahoe. However, their crossover models are doing well, such as the Enclave.
People are now interested in smaller vehicles that have good fuel-efficiency. Motorists feeling the squeeze also go for pre-owned models that are inexpensive.
Ford dealerships around the nation have sold 35% more of the Focus. This is a compact sedan that was redesigned for the 2008 season. Also, Chevrolet Cobalt sales went up 50%.
Even though small cars are hot, it means a loss for automakers because compact cars are less expensive.
Buyers need to consider a variety of factors when buying a car. This includes not only gas prices, but maintenance costs, insurance costs, and finding a good auto warranty.