Welcome Guest - Please Login | Subscribe |FAQ's | Why Register | Privacy Statement |
| Classifieds | Jobs | Cars | Real Estate | Directories | Yellow Pages+ | My Clips | 
     
 Today is July 24, 2008 Current Temperature: 62° in Lewiston, Maine 


Printer Friendly Version      Email Story     Increase Text    Decrease Text
iPod Friendly
  Comments
Gas prices move trucks out, cars in

,
Monday, May 12, 2008
PHOTO GALLERY
« Previous | Next »
thumbnails | gallery

AUBURN - Sure, Charles Casey loved his pickup truck. It was, after all, just a couple of years old. It had a V-6. It was great for hauling stuff.

But with a stroke of the pen Friday, the Buckfield man dumped his 2006 Toyota Tacoma at Emerson Toyota-Scion in Auburn and picked up a 2009 Toyota Corolla. He just couldn't live with the gas cost anymore.

Truck: 20 miles per gallon

Car: 35 mpg.

"It works for me," Casey said.

With gas prices climbing - AAA listed Maine's regular unleaded average at $3.66 per gallon Friday, up 35 cents from the month before - Casey isn't the only one downsizing. Area car dealers say customers are streaming in to trade gas-guzzling trucks and SUVs for gas-sipping cars.

"At $3 (per gallon) it started to hit," said Jim Joys, general manager for K&R Auto Sales in Auburn. "Now, at the $3.50 mark, it's like the explosion point."

Joys noticed the trend starting about six months ago. Three-quarters of his inventory had been in trucks. Now his inventory is three-quarters cars. Imports and economy cars are particularly popular.

"There's a fundamental change going on right now. When people used to come in to buy their vehicles, they'd look at the car payment. Now they're actually looking at car payment and fuel payment. It's amazing," he said. "I've never seen this happen in 25 years in the business."

One customer with a long commute saved $500 a month when she got rid of her SUV and bought a car, Joys said.

At Emerson, where Casey traded his truck for a car, 4-cylinder, $15,000-plus Corollas are particularly popular. So is the Yaris, which starts at $11,500 and can get 35 mpg on the highway.

"Everybody's got their eyes on the window stickers of the cars and what the fuel economy ratings are," said Vinnie Goulette, Emerson's general manager.

In the Boston region, which includes Maine, sales of 4-cylinder Scions - which can get up to 33 mpg, depending on the model - have jumped 66 percent, according to Goulette.

"And they're saying good riddance. They're not taking it personal when their old truck goes," he said.

At the Lee Auto Mall in Auburn, new Honda Civics are popular. They start around $15,000 and can get up to 36 mpg, depending on the model. For used vehicles, customers want anything that gets in the 20s and 30s for gas mileage.

"When you're paying $500 and $600 a month to heat your house, you've only got so much money to go around," said Jeff Benton, used car manager for Lee.

At Goodwin's Chevrolet-Mazda in Brunswick, Chevrolet Impalas ($22,400-plus and up to 30 mpg) and Chevrolet Cobalts ($14,800-plus and up to 32 mpg) are in demand. They're replacing, among other SUVs, the Chevrolet Tahoe, which gets up to 18 mpg.

"They're thinking 'If my payment goes down a little bit, even if it goes down $30 a month, with fuel savings it's almost going to look like $100 a month,'" said Lance Miller, sales manager.

But while buyers are happy to get into more fuel efficient cars, they aren't so happy when they learn what their old trucks and SUVs are worth.

"They've dropped about 30, 35 percent," Miller said.

At K&R Auto Sales, Joys sees the downturn every time he goes to buy inventory at a vehicle auction. Seven out of eight vehicles are trucks and SUVs, he said. Bidding is sparse.

"If you look at guides and book values and things like that, the trucks are dropping so fast that the books aren't keeping up with it," he said. "And the cars are rising so fast that the books aren't keeping up with it."

Although demand for trucks and SUVs is generally falling, sales aren't dead everywhere.

Bessey Motor Sales in Paris has been selling trucks as well as cars. Contractors still want trucks to haul large loads and big families still want SUVs for the room.

"A lot of people can't alter their need," said dealer Gene Benner.

When Casey got rid of his Tacoma on Friday, he learned that his truck was still worth some money. As bad as 20 mpg seemed to him, it was good fuel economy compared to other, larger trucks. Demand for them has been so high that Emerson was completely sold out of Tacomas until Casey came along.

They gave him $17,000 for the truck, almost exactly what his new Corolla cost. And the change will save him more than $1,100 a year in gas.

CLICK HERE To Show/Hide Discussion Thread - (10 Comments)
Comments
Posted By:budman at May 12, 2008 7:06 AM (Suggest Removal)
Charles why didn,t you just ride your Harley?, and how are you going to haul it now? What are you going to do when you go hunting,that toyota will look a little goofy with an elk draped over it!

| Add your comments
Posted By:DONALD R at May 12, 2008 8:37 AM (Suggest Removal)
Sorry, but there are those of us that need 4x4's due to winter travel. I'll be making my trek to Rowe Ford shortly to replace my 5 yr old Explorer and don't have one iota of guilt about it, either.

| Add your comments
Posted By:Linwood at May 12, 2008 8:40 AM (Suggest Removal)
What I think is the funnniest is who knows what he owed still on the truck. Probably the 17,000 he got for trade in so he spent 20,000 on a car that will "SAVE" him 1100 a year in gas so that means that it will only take just over 18 years before he saves enough money on gas to pay for that car. But hey he should still be driving it then right. That was such a good financial decision. My thought is if you are buying a diffrent vehicle cause you can't affford gas then it should be a second hand car that you can pay off in a year or two so you can actually save more then your payment is. But thats me

| Add your comments
Posted By:Linwood at May 12, 2008 8:46 AM (Suggest Removal)
And I will also make a shameless plug that I am selling my mint 4cy jeep wrangler that gets 20 miles to a gallon if anyone is interested cause i bought my wife an xterra that gets 17. 6500 takes it

| Add your comments
Posted By:Tucker at May 12, 2008 8:48 AM (Suggest Removal)
To all of the above, ExxonMobil loves you!

| Add your comments
Posted By:Duh at May 12, 2008 9:46 AM (Suggest Removal)
What needs to occur is more incentive to switch to alternative energy cars for daily commutes followed by using the 4x4 only when you need it. The US from Congress on down need to show the world we are serious about conservation. Until then, be willing to continue to watch rising prices without sympathy as many view us as "American Pigs" when it comes to energy.

| Add your comments
Posted By:Jay Bee at May 12, 2008 1:01 PM (Suggest Removal)
Jeff has a point - if it's a short trip, a bike ride is a good idea. You get your worst mileage with city driving. Plus, you'll be healthy!

| Add your comments
Posted By:Anonymous at May 12, 2008 1:35 PM (Suggest Removal)
Isnt this the same Charles Casey from buckfield who was in the arrest record yesturday of Sun journal for a Dui? Great fact checking sun journal, having him on the front page of the sun journal buying a new car was not in good taste after such an arrest.

| Add your comments
Posted By:Jay Bee at May 12, 2008 2:18 PM (Suggest Removal)
But guys - don't we want our drunks driving smaller cars? If only we can work them down to Shrinermobiles...

| Add your comments
Posted By:bill at May 12, 2008 6:25 PM (Suggest Removal)
Save on gas. Buy more beer. - I need to drive a big truck to protect me from guys like that. Even then there's no promise that one would walk away from a wreck.

| Add your comments
Advertisement
Central Maine Medical Center College of Nursing and Health Professions
graduated 38 students recently in a ceremony at the Franco-American Heritage Center in Lewiston.
read more >>
CMMC Wellness Solutions
announces programs beginning June 2.
read more >>
Meghna Desai, M.D.
a medical oncologist, has been appointed to the Central Maine Medical Center Medical Staff. She is practicing with Hematology-Oncology Associates in Lewiston.
read more >>
Contents of this site © 2008 Sun Journal
| Forgot Password |Blog Policy | Privacy Policy | Feedback | Advertise With Us | Contact Us | About Us | Faq's | Help |