SUVs on the Wane? | Green Energy News

March 30, 2003 – Vol.8 No.1

SUVs ON THE WANE?

In general Americans seem to have no problem plunking down (or borrowing) 20,30,40 thousand dollars or more for a car, truck or sport utility vehicle. And they don’t seem to care that the vehicle suffers horrendous depreciation from the moment it leaves the dealer’s parking lot.

But when gasoline starts costing a few dollars more at each fill-up they start to scream - or change their car buying habits.

According to an Internet survey by Kelly Blue Book (KBB), higher-than-comfortable gas prices are creating a slight downward tick Sport Utility Vehicle interest. Kelly Blue Book, which has been providing information about cars to buyers and sellers since 1926, is careful to say that there has been a five percent decline in consumer interest in SUVs over the last six weeks. That decline in interest - which may or may not lead to a decline in sales - is attributed to gas prices being a bit too high. More than four out of ten also said that high gas prices would keep them from buying that vehicle.

And some other findings are worth noting: 43 percent of respondents believe SUVs have a significant impact on foreign oil dependence up from 36 percent six weeks ago, and 44 percent of car-buyers felt that car manufacturers do not care about the social impact SUVs have on the U.S. - a gain of three percent over the same period.

The survey - the KBB New Vehicle-Buyer Attitude Study on SUVs - was implemented in two stages to determine attitudes and views regarding controversial SUVs. Respondents included those considering buying the vehicles, and those not. Kelly Blue Book is offering the complete results of this survey for further dissemination. Visit KBB at http://www.kbb.com/ (click About KBB, Media Center, see the Press Release for contact information regarding the survey).