SUV, Pickup Sales Rebound as Price of Gas Drops

But big trucks are becoming scarce as automakers retool for fuel efficient models
By Jim O'Neill,  Newser User
Posted Nov 3, 2008 9:08 AM CST
Magic Mir fuels up an SUV priced to sell from the car dealership where he works at a gas station in San Jose, Calif.   (AP Photo/Marcio Jose Sanchez)
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(Newser) – Gas prices are down and the sales of SUVs and pickup trucks are accelerating, albeit only into second gear, reports the Wall Street Journal. As gas edges closer to $2, buyers are picking up bargains on the big gas guzzlers dealers couldn’t give away couple of months ago. And desperate manufacturers still are offering huge discounts on leftover 2008s.

Dealers are touting the discounts as enough to pay for the difference in gas costs over a fuel efficient vehicle for years to come. And it's working, especially for those who use trucks for business. The share of large pickup owners trading for another large pickup, which was down to 49.8% in May, was back up to 74.5% in September. Ford last week even recalled 1,000 workers to its F-150 production line.