Unless you’re Toyota, I guess…
What Business Week is plowing onto the American public here is garbage, at least as far as this SUV owner is concerned.
Just as this article was coming out, I got a call from Toyota. It seems my “contract is running out” ( i.e. I’m close to paying off my FourRunner). Toyota is contacting me, wondering whether I’d be willing to trade in this vehicle (now worth a bit more that Kelly Blue Book, according to them) for a new Toyota vehicle of equal or greater value than the one I now own. They are willing to give me several thousand dollar, as a “coupon” on a new vehicle. My vehicle is in excellent shape and probably has a good ten years of useful life left in it. I of course declined.
If gas prices fall off their spike, I can only think that the rush to dump SUVs, perpetuated in good part by the media, will retrospectively be the next, closest, convenient way to jam more indebtedness down the throat of US consumers. “Trade in that gas hog now! It’s worthless! Get a small car before it’s too late! By the way, we’ve got a financing deal for ya!”
PS: My SUV – the one the media says is a dog – is now exactly three years old.
UPDATE: Forbes thinks the swan song of the SUV is overblown too.
UPDATE 2: Five reasons to keep that machine.