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South Florida Sun-Sentinel Daniel Vasquez column: Popularity of large vehicles was already in decline before fuel prices began to soar, and...(South Florida Sun-Sentinel (KRT) Via Acquire Media NewsEdge) May 12--Gas prices are soaring and the mighty are falling. Ford Expedition. Dodge Durango. Nissan Armada. The bad-boy SUVs with their rugged looks and ridiculously low fuel efficiency are increasingly out of favor among consumers now demanding smaller models with higher MPGs. The eco-friendly trend may be the only upside to rising gas prices. "The big hunker is dead and not coming back," said Mike Jackson, CEO and chairman of Fort Lauderdale-based AutoNation. "We have a consumer migration to fuel efficiency. And by the way, we need it." You bet we do, with the national average price for a gallon of regular topping $3.60 last week. South Florida prices are expected to reach $3.75 by Memorial Day and $4 by summer. Recent car sales reveal buyers are no longer captivated by the hulking sport-utility vehicles and heavy-duty pickup trucks that have dominated the U.S. market for decades. Sales of full-sized, truck-based SUVs are down more than 25 percent so far this year. The Expedition was down 35 percent in April, compared with last year. The Durango was down 45 percent; the Armada down 57 percent. Local dealers say record gas prices and diminished consumer confidence in the economy are driving many to visit dealerships across the state to dump an SUV for a more fuel-efficient car. "Customers are trying to trade out of big trucks, SUVs and Hummers," says Julio Cardoso, used-car manager at Maroone Nissan of Pembroke Pines. Ted Kabboush, director of used vehicle operations for Earl Stewart Toyota in North Palm Beach, also is seeing the trend. "Every day someone comes in to trade-in a late model SUV or pickup truck," he said. "Trade-in value has dropped $3,500 to $10,000 in large late model SUVs and pickup trucks in just the last 90 days because of fuel prices." On the other hand, Cardoso says overseas customers are still snapping up luxury gas guzzlers. Cardoso's dealership recently shipped two used Lexus SUVs to Russia and a used Chrysler 300 to Africa because they didn't resell quickly here. Jackson of AutoNation says you can't blame our collective back-turning on SUVs solely on gas costs. He says large SUV sales began declining several years ago as a smaller cousin -- car-based, crossover utility vehicles or CUVs -- gained market share. Lighter and slightly more gas-efficient than a traditional SUV, CUVs offer more interior room than an average car. Beginning in 2006, CUVs such as the Mazda CX7, Honda CR-V, Toyota RAV4 and Ford Edge began outselling large SUVs. And it was the only new car segment to show strong sales growth last year -- up nearly 18 percent, compared with the year before, according to data from the National Automobile Dealers Association. Sales for the Edge were up 24 percent in April compared with last year, and CX7 sales were up 58 percent. Consumers are also hot on subcompacts, the tiniest cars that tend to get 30 miles or greater per gallon. The Ford Focus, Toyota Yaris and Honda Fit are selling like champs. Sales of subcompacts spiked 32 percent in the first quarter of the year. Focus sales were up 32 percent in April compared with last year; Yaris up 46 percent. And these aren't your father's econo-cars. "The consumer[s] very much held their nose[s] and endured the econoboxes of the 1970s and 1980s," said Jackson of AutoNation. "They were cheap, noisy and uncomfortable. The small cars today are very-well designed, safe and approach high-quality." If you have an SUV that is breaking the piggy bank and are weighing a trade-in or sale to pick up a more efficient vehicle, here are some things to consider: How much do you owe? If you bought a year or two ago, you may owe more than the SUV is worth in trade-in value. Use Web sites such as Edmunds.com and www.Kbb.com ( Kelley Blue Book) to find out what your SUV is worth. If a dealer won't match the value, consider the private market. Preen before you sell. If you are going to sell or trade in, cleaning and professional detailing may help bring in more bucks. Consider holding on. If your SUV is not worth much to sell, keep it and buy a cheap, gas miser to use when appropriate. A large SUV is hard to beat for those who have boats or motor homes to haul. Check Consumer Reports.org. The latest results are out on the best and worst cars for fuel economy per class. Hint: The Yaris, Fit, Honda Civic Hybrid, Toyota Prius and Mini Cooper S are good buys. The Nissan Versa, Dodge Charger, Chevrolet Cobalt, Mercedes-Benz S550, not so good. Contact Daniel Vasquez. at [email protected], or 954-356-4219, or 561-243-6600, ext. 4219. To see more columns from Daniel Vasquez, go to sun-sentinel.com/vasquez. Let us hear from you Are you looking to trade in your gas guzzler for a more fuel-efficient vehicle? Contact Daniel Vasquez at or call 954-356-4219 or 561-243-660, ext. 4219. To see more of The South Florida Sun-Sentinel or to subscribe to the newspaper, go to http://www.sun-sentinel.com/. Copyright (c) 2008, South Florida Sun-Sentinel Distributed by McClatchy-Tribune Information Services. For reprints, email [email protected], call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. |