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Current DateTime: 09:13:57 06 Jul 2009
LinksList Documentid: 30830730
Expiration DateTime: 7/6/2009 9:15:30 AM
    • Scrappage Scheme Helps New Car Registrations  9 hrs ago

        New car registrations fell nearly 16% in June, according to the Society of Motor Manufacturers & Traders. The decline was the slowest since July 2008. Paul Everitt, CEO of SMMT, and Guy Pigounakis from Hyundai Motors discuss the auto sector.

    • Mini Still Going 50 Years On  05 Jul 2009

        The first Mini rolled off the production line in Oxford, England 50 years ago Monday. Ian Robertson, board member at BMW, spoke to CNBC about the much-loved auto brand.

    • Downturn Boosts Aruba's Business  05 Jul 2009

        More and more people are working from home and travelling less through the use of video conferencing and secure data networks, says Dominic Orr, CEO of Aruba Networks. He sheds light on how the global downturn, technology and changing workplace trends have improved its business, with CNBC's Amanda Drury.

    • A Better Fit for Opel: BAIC or Magna?  05 Jul 2009

        Discussing the bidding race for Opel is Michael Dunne, VP of International Ops & MD of China at JD Power, speaking to Paul Schulte of Nomura International, and CNBC's Sri Jegarajah and Martin Soong. Dunne sheds light on the synergies through a deal with China's BAIC, and what Canada's Magna can offer to Opel.

    • Cyclicals Still Offer Value: Fund Manager  02 Jul 2009

        German stocks were lower Friday. Matthias Born from Allianz Global Investors sees value in "companies which are on historical low multiples," as he sees "re-rating potential left, especially for the cyclical part of the markets," like autos, chemicals and capital goods companies.

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Current DateTime: 09:13:57 06 Jul 2009
LinksList Documentid: 30830722
Behind The Wheel
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Jun.13
11:28 AM ET
Friday, 13 Jun 2008
Right Time To Buy An SUV? It Sure Is!

AP

Oh I know many of you saw that headline and said, "Toyota Phil has lost it! Gas is averaging $4.06 a gallon and he says NOW is the time to buy? What an idiot!"

Relax. I haven't lost it. I agree that for many people (soccer moms, the guy putzing around the suburbs, etc) driving a gas guzzling SUV makes no sense.

But there is a market out there of people who truly need the utility and capability an SUV offers. And right now those people are salivating at the possibilities. As well they should be.

Right now the Kelley Blue Book prices of used SUVs have plunged more than $2,500. Some are down more than $3,500. It's a buyers market for those who need/want an SUV. And the best part for those people is that prices may go even lower. Think of all those people who got a 3 year lease back in 2005 (the good old days when gas was reasonable) who are due to turn in their SUVs. As they do that, the finance companies will unload the gas guzzlers for a song. Bottom line. The market will be primed with big rigs at very low prices.

That's great news for those who need an SUV. Contractors, people in specialty trades, those who live in rural areas where the roads can get dicey at times. These are the people who should be driving an SUV. But over the last 15 years, the sport utility has become the vehicle of choice for suburbanites, yuppies, soccer moms who liked the utility, ride, styling of an SUV. Those people are now choking on their gas payments.

For you folks, relief is coming. There are more and more fuel efficient crossover utility vehicles on the way. And some of you will get re-acquainted with driving a car every day.

As for you hard core SUV drivers. You may not love the mileage you get, but you do love your sport ute. This is one of those rare periods where you have a chance to trade-in or upgrade and wind up getting a great deal.

Questions?  Comments? 

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