According to Bankrate sales of SUVs are up 25% from this time last year. Wait, weren’t we all buying Priuses because we can’t afford $4 gas? Nope.
A combination of factory incentives from GM, Ford and Dodge and the fact that American families enjoy the convenience of a car that can haul 5 people and a load of crap from Costco has kept sales of SUVs strong. From Bankrate:
Recent sales figures, however, suggest the American love affair with sport utility vehicles has not abated. What’s more, sales of highly efficient sedans — such as the Toyota Prius hybrid — have slacked off to the point that Toyota is offering incentives on the Prius.
Sales of large SUVs actually rose nearly 6 percent in the first quarter of 2007, and in April were up 25 percent from last year.
GMC’s Yukon XL saw sales rise 72 percent in April compared with a year earlier while its cousin, the Chevrolet Suburban, saw sales rise 38 percent for the same period. Apparently, having to spend more than $100 to fill the tanks on these icons of SUV excess isn’t that much of a worry for many folks.
Bankrate concludes that if you tell an American that they saved $10,000 on an SUV, they don’t mind paying for the gas. —MEGHANN MARCO