Falling gas prices up SUV sales

September 29, 2009 1:16:46 PM PDT
Gas prices are down another penny a gallon. AAA says the national average is now $2.49 a gallon. The price in New York is $2.74. In Connecticut, it's $2.68. And the cheapest gas is in New Jersey, the average price $2.35. And as the prices keep falling, more Americans are going back to buy bigger vehicles that are less energy efficient.

Al Womack is looking to buy a car, but not a new fuel-efficient hybrid. Womack is buying a gas-guzzling SUV. And he's not alone. With the price of gasoline dropping, dealers report sales of SUVS and trucks are up at least 9 percent, according to one national study.

The recently-ended Cash for Clunkers program was aimed at spurring sales of fuel-efficient cars while getting older models off the road. But motorists say there'll always be a market for sport utility vehicles.

Cash for Clunkers also wiped out many dealers' stock of new cars, so used cars are doing well. And the segment selling the best is SUVs.

While there are still some SUV models that are more efficient, gas-wise, they don't even put it on the sticker. Dealers say expect more so-called crossover vehicles, which could help soften the blow if gas prices start to go back up.

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WEB PRODUCED BY: Bill King


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