Large SUVs Suck: Sales and Values Plunge.
Deep, deep depression is the best way to look at the value of large SUVs now, and probably in the future, according to data from the Specialty Equipment Manufacturing Association (SEMA).
Those foolish enough to have purchased a large SUV may find themselves in the last two years are finding that they may owe more than it is worth by a considerable amount. Thus they are likely to just drive them despite the high costs as selling them to buy a more practice and safer vehicle would not be cost efficient. Sadly, these gas hogs are going to be on the highways for a long time as the resale price plumets and buyers with less financial resources buy them and let their expensive mantainence lapse. A Hummer H2 is going to darken America’s highways for years and join with other gas guzzlers to increase the nation’s dependency on imported oil. It is a free country, but the economics lesson is simple; sales are down nearly 50 percent and on some models that rate is astronomical such as for the Cadillac Esclade, Ford Explorer, and Toyota Sequoia and the value of large SUVs has fallen over 30 percent in last 12 months, according to the The New York Times .