More Bad News For SUVs
Gas has hit a record high in the past week topping $135 a barrel last Thursday. Americans are making the transition from SUVs to more fuel-efficient sedans and crossovers, a scary scenario for auto manufacturers like Ford. For the first quarter of 2008, sales of the popular Ford Explorer have fallen 25% compared to the first quarter of 2007. With Ford so heavily invested in SUVs, their overall sales are bound to drop tremendously as prices at the pump continue to rise.
Ford announced last week that they would not reach earnings estimates in 2009 and today announced that they would be cutting back 12% of salaried jobs. Motionless inventories are bound to be cleared by some type of dealer incentives in upcoming weeks, so this could be your best opportunity to snag a great deal on an SUV if you need the utility.
If not, there are many fuel-efficient hybrids, sedans and crossovers to fit your budget. Check out some of the latest models from Toyota, Honda, Nissan and others by using our convenient search engine at AutoBrag.com.
