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Sep 25, 2009 -- Used compact cars are current auto market sweet spot
Used compact cars represent the latest sweet spot in the auto market in a post-Cash for Clunkers world.
Americans have pivoted back to purchasing trucks and SUVs now that the price of gasoline is a shrug of the shoulders. GasPriceWatch.com lists the lowest price for gas in the United States at $2.11 in South Carolina. Of course, certain areas of the country like California are still paying near the $4 range. (Editor's note: Prices accurate as of Sept. 24, 2009.)
But overall, compare today's national average of $2.11 to a year ago at this time when prices were nearly twice as high across the country!
The softness in the prices at the pump have driven up sales of larger vehicles and depressed sales of smaller cars.
One exception to this general rule are some of the hybrid cars. Those that have been embraced by the public are holding their value for resale. Yet some models that have fallen out of favor, especially the SmartCar, have seen resale values drop, according to Kelley Blue Book.
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What others are saying
Many Americans are just sheep that drive
So what will happen if gas goes to say $1.75 a gallon? Will Hummer start up the assembly lines again and pump out a bunch of these monstrosities for the conscious challenged? Then I suppose hybrids and EV's will go into hold status while we drive ourselves into another crisis. The cold hard fact is energy prices will only be going UP in the long-run. Unfortunately, the oil companies own the good battery technology for EV's so if they do pump out an EV or two, the Volt is a great example, they will be so expensive the price tag alone will kill the EV trend, and back to the oil we go. Notice these under 10k cars Clark talks about are gas engines, so even though they will get many to buy these cheap cars we will still be using gas and buying parts from the industry to fix em. I'm just so angry on this issue, half the country would be driving an EV right now if GM didn't sell the battery technology to Chevron/Texaco and our own government along with the oil and auto industry didn't force this line out. Shameful, and the saddest part is not many know or care.
Gas Prices In California
Prices vary from region to another here in CA - but nearing $4 a gallon? NOT presently! Just paid $2.89 a gallon & haven't paid more than $3.43 for the last 4 months!
When it's your time to go, it won't matter how big or how small your vehicle is.
SUVs'
Americans have short attention span and expect things will fix themselves. And the Govt should be responsible for doing it, not them.
@David Kerr
"...no one knows the life cycle cost of hybrids." - David Kerr
That's completely false David. First, the Prius has been in production since 1997. It has the highest reliability rating given by Consumer Reports. The 2010 Prius has a 4 cylinder 1.8 L engine in it that should get over 35 mpg if the battery is unplugged. That is an engine almost as big as the 2.0 L engine in my 1986 Honda Prelude Si. Clearly, this is not a battery powered car. Third, the battery is a very reliable Ni-MH and not a Li-ion like your laptop batteries. The battery is warrantied for 10 years in most states - not that you will need to replace it. After 14 years of production, Toyota has not had to warranty a single battery. They are not huge batteries and the computer keeps them from discharging below 20% and overcharging - the two things that kill rechargeable batteries. Read more from Edmunds here.
This car is not an electric car. It is an energy capture car that simply uses the battery to capture your breaking and excess gasoline energy to use it when you really need it later. This simply makes the gasoline engine go farther on less fuel. So, your FUD (Fear, Uncertainty, and Doubt) is just silly and you are clearly misinformed.
Compact car bargins post c.f.c's
So true Clark! I purchased a 2006 Scion xa July 2009. Dealer asked $10,000 i offered & paid $9,000. Now i get 40 m.p.g & pay $2.24 gallon og gas!
compacts
Buy the non-hybrid. Invest the difference in oil etfs like IYE or USL as a hedge against possible oil price hike. Hybrid batteries may need expensive replacement at 100,000 miles. I drive a small corolla and acura RSX and plan to take them to 250,000 miles and no one knows the life cycle cost of hybrids.
Smart Car
I saw two young ladies driving down the freeway yesterday. To their left was an 18 wheeler and to their right was another 18 wheeler. All were moving at about 65 mph. One 18 wheeler put on his left signal and started moving into the lane of the Smart car. Only at the last moment did he realize that there actually was a car (if you can call it that) in that lane. I doubt if those two young ladies knew how close they came to being a statistic. The Smart car may be smart when chasing down the side streets of Paris, France. But it is plain dumb when on American freeways. If that had been my daughter, I would offer to buy her a real car if she would just get all that global warming, we're running out of oil stuff out of her brainwashed head.
