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102 comments on Countdown to $200 oil: International Energy Agency says current prices justified...
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102 comments on Countdown to $200 oil: International Energy Agency says current prices justified...
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It is not the OWNER of the SUV that will make the calculation, but rather the BUYER of the used vehicle. Let's assume that the OWNER is forced to park the vehicle, or chooses to do so by having a bicycle, another (better mileage) car, etc.
If the vehicle is fully paid for, it is a depreciating asset that is incurring fees, such as lincense plates, insurance, etc. Why not sell it?
The BUYER doesn't have to know 3rd grade math. He knows the SUV will cost double per week/month to operate, compared to a sedan. Can he get a good enough price to justify this purchase?
Very good condition used vehicles will come down in price to make up for their poor fuel economy, I predict, rather than sitting idle.
I agree Pipefit. My coping paln for the next decade includes driving a large SUV that I am going to buy when there are many distressed sellers. I have calculated that $5 (AUD) per litre will still be economical to run for road trips with full family passengers and luggage. Daily commuting however will be by cycle (both motor and bi), bus and walking. Our road trips may not extend beyond a 500km radius from home but where we live we can access beaches, forests, snow, mountains, large metro cities, farmland, pretty much everything you could want to visit. Don't think I'll be making too many overseas jet flights though.
My brother bought a SUV for pulling a camper trailer, that they had yet to buy. Why he did buy it was not because of wanting an SUV perse` but wanting to pull a camper trailer for camping, which they do enjoy. Now he is regretting it, because gas prices are so high, with no sign of going down.
I know a local lady that parks her car to take the bus, just started doing it last month.
There will be a lot of changing habits, as we see in the US higher gas prices and longer waits for them to go down. Look at the Local news that Ford F-150 sales are down for the frist time in 17 years. I don't have a URL for checking that quote.
Paradigms are shifting still, lots of things are still going to be in flux.
Charles,
Still running for US President, as a write in candidate.