Too bad we couldn't short Hummers and F-150's...
Used Truck Trade-In Values Plunge, Deepening Auto-Sales Decline
Plunging prices for used pickups and sport-utility vehicles are deepening U.S. automakers' sales slide, with Ford Motor Co. the latest company to feel the pinch.
Gasoline near $4 a gallon helped send prices for used large pickups and SUVs tumbling at least 21 percent in May, Atlanta- based Manheim Consulting estimates. That cuts trade-in values, pushing light-truck sales down 16 percent in 2008, compared with less than 1 percent for cars.
``Regular consumers don't need larger SUVs or pickups; it's a lifestyle choice,'' Standard & Poor's equity analyst Efraim Levy in New York said in an interview. ``If it's getting to be a bad investment, it's not worth buying a new one right now.''