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- Ford F-Series------------- 528,349 (+27.7%)
- Chevrolet Silverado ------370,135 (+16.9 %
- Toyota Camry ------------327,804 (-8.1 %)
- Honda Accord-------------282,530 (-1.7 %)
- Toyota Corolla------------ 266,082 (-10.4 %)
- Honda Civic---------------260,218 (+0.2 %)
- Nissan Altima-------------229,263 (+12.6 %)
- Ford Fusion---------------219,219 (+21.3 %)
- Honda CR-V-------------- 203,714 (+6.5 %)
- Dodge Ram-------------- 199,652 (+12.6 %)
If the trend continues, we might see owners of large SUVs going for more fuel-efficient crossover models and trade-in values could plummet as well.
Alec Gutierrez, lead analyst for vehicle evaluation at Kelley Blue Book, said that large SUV sales could take a hit if the gallon reaches the $3.50 to $4 mark. However, since the last price spike registered in spring 2008, sales have only fallen about 1%, so this time around the “damage” shouldn’t be as big as two and a half years ago.
“If you see a 20-to-30 cent price increase per gallon over the course of a couple weeks then of course people are going to panic”, he said, “but if it increases steadily over time that gives the market a chance to react rationally”.
Nevertheless, many people could change their buying habits and opt for smaller SUVs and crossovers, such as the Ford Escape, Nissan Rogue, Honda CR-V and Toyota RAV4.
“The American consumer still generally wants to have a vehicle that offers a lot of utility but at the same time they are conscious of the fuel economy that the vehicle offers and what they are going to pay at the end of the month”, Gutierrez commented.
Another side effect of the rising fuel prices could be the plummeting trade-in values. It happened in 2008 and it could happen once again, so many dealers are scaling back the number of large SUVs available for sale.
“SUVs are still important in this area, but people are downsizing to more fuel efficient SUVs instead”, said Dennis Egglefield, owner of Egglefield Ford in Elizabethtown, N.Y. But as gasoline prices rise, “we are still stocking with the idea that it may go either way. Hoping for the best, but prepared for anything”, he added.
By Csaba Daradics
Source: Autonews
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Toyota led the way with around 7.1 million recalls to fix faulty gas pedals and floor mats that could trap the accelerator, as well as numerous other problems spanning from defective brakes to stalling engines. General Motors recalled about 4 million vehicles in 2010, while domestic rival Ford is said to have recalled 500,000 cars and trucks, and Chrysler approximately 1.5 million. Japan's Honda and Nissan are said to have both recalled over 2 million vehicles in 2010.
However, not all is bad, as Transportation Department spokeswoman Olivia Alair pointed out. "More and more recalls are being voluntarily initiated by automakers and we think that's a good sign," Alair said Wednesday. "Safety is NHTSA's first priority and improved cooperation from automakers will help resolve safety issues more quickly and comprehensively."
Wade Newton, a spokesman for the Alliance of Automobile Manufacturers, which represents companies such as General Motors, Toyota and Ford, said carmakers "are doing a better job of identifying and pinpointing safety-related issues and taking faster action," adding that safety advances in the latest generation of cars and trucks helped decline traffic deaths to the lowest level since 1950.
Source: Associated Press , Via: NPR
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