SUVs are back in vogue
By Gargi Chakrabarty From Rocky Mountain News|
Jan 29 2007
SUVs are back in vogue. Credit that to back-to-back snowstorms, arctic blasts that have left streets frozen and cratered, and gas prices at 18-month lows. The rugged vehicles are again popular among car buyers in the metro(Denver) area. Local searches for SUVs on some car-buying Web sites have more than doubled in the past two months. And auto dealerships say they have waiting lists for new and even used SUVs as customers make deals for available models at a brisk pace. The most telling impact, however, has been on the price of used SUVs. The average wholesale price of a used SUV is about $17,250 - nearly 10 percent higher than in November 2006, though below the $18,000 price in March 2005, according to the National Automobile Dealers Association. "We see a perfect, inverse relationship between the wholesale prices of used SUVs and gasoline," said Paul Taylor, NADA's chief economist. "When gas goes down, it tends to increase the wholesale price of used SUVs."
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