The Oil Drum | DrumBeat: January 3, 2009

200 comments on DrumBeat: January 3, 2009

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westexas on January 3, 2009 - 10:19am

Happy (Motoring) Days Are Here Again

Ed "We don't have to worry about Peak Oil for at least 50 years" Wallace, who runs a local auto industry supported and focused talk show in the Dallas/Fort Worth DFW) area, had a roundtable of auto dealers this morning. It appears that most dealers in the DFW area ran out of large SUV's and trucks at the end of the year, and--drumroll please--the Hummer guy had his best sales month of the year in December. Oh happy days!

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Leanan on January 3, 2009 - 10:23am

I'm starting to see Hummers on the street again. For awhile, they were pretty scarce. No more.

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westexas on January 3, 2009 - 10:29am

Apparently the wholesale price of large truck/SUV's has risen by about $2,500 to $5,000 in past four months, while used hybrid prices have fallen by about the same range.

In purely economic terms, I suppose the prices make sense--of course assuming that fossil fuel resources are virtually infinite.

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enemy of state on January 3, 2009 - 2:12pm

Apparently the wholesale price of large truck/SUV's has risen by about $2,500 to $5,000 in past four months, while used hybrid prices have fallen by about the same range.

Should be a good time to trade in a truck/SUV for a hybrid. It is usually a good investment strategy to go against the crowd, and once oil rebounds, this situation could reverse in a hurry.

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tstreet on January 3, 2009 - 12:44pm

When the gas prices head up again, these same people will be screaming for a bail out, including elimination of the gas tax. Meanwhile, they are having a cornucopiagasm. Notice the Georgians' gas taxes are going down in a time of low gas prices. What boneheads. No doubt they will be getting money from the Fed to repair/build those roads that can't be done with their low gas taxes.

So much for the ridiculous theory that we have seen a permanent change in Americans' taste for the kinds of autos they buy.

It's hopeless. Screw it. I am now firmly in the doomer camp for 2009. So much for my resolve to give Obama a chance. Until I see specific policies proposed and passed to stop this nonsense, it's doomer time all the way.

Happy Freaking Doomer New Year!!!

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Round Tripper on January 3, 2009 - 9:25pm

That's a good point. It triggers a great idea: receipt of stimulus money for road infrastructure should be contingent on setting a minimum state gasoline tax.

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Sterling925 on January 4, 2009 - 12:04am

Happy Freaking Doomer New Year back at ya.

"cornucopiagasm"

tstreet, You have a great sense of doomer :-)

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davebygolly on January 3, 2009 - 1:32pm

And yet, today's NYT Business Section lead article is "Desperate Retailers Try Frantic Discounts and Giveaways". Buy one a 2008 Ram and get another car free. Plus all kinds of other amazing stuff.

Also big articles in NYT, WSJ, and FT about manufacturing around the world dropping off a cliff.

And there's an article in the NYT about creditors actually easing up on delinquent accounts -- better a partial payback than none.

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westexas on January 3, 2009 - 2:01pm

The new trucks and SUV's were marked down to sell in the DFW area in December, but they did sell. Dealers were determined to reduce their inventory. Probably a lot of regional differences. The prices of used trucks and SUV's have increased because there was virtually no market for them this past summer.

The dealers also talked about an increased gas tax. One dealer said that there was no alternative to large vehicles and cheap gas for most Americans. He said that we might ultimately transition to more walkable communities, with mass transit and small European style cars, but he basically said that for now, the American Suburban Way of Life is non-negotiable.

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DIYer on January 3, 2009 - 4:28pm

Aren't there occasions when not to negotiate, is to negotiate poorly?

Not that we could convince the rank-and-file Bubbas to take another course... Texas would probably secede first ;-)

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CSS on January 3, 2009 - 6:36pm

My apologies if this has already been posted:

Ford hoping to attract enthusiasts with '10 Shelby

DEARBORN, Mich. (AP) — Ford Motor Co. is looking to appeal to muscle car enthusiasts with its 2010 Ford Shelby GT500.
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Although the Shelby is a high-end specialty car, Ford hopes that the pumped up design — racing stripes that adorn the seats — and performance help show off the company's commitment to high performance and quality.
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Consumers unable to buy a Shelby may go to Ford showrooms and end up purchasing a new Mustang with a V6 or V8 engine, Hall said.
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The 2010 model also improves its highway mileage performance by two miles per gallon with an estimated 22 mpg on highways and 14 mpg in the city.

http://www.google.com/hostednews/ap/article/ALeqM5ghoK7xf4NNd3ziog0X-v4J...

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200 comments on DrumBeat: January 3, 2009

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“If kindness and comfort are, as I suspect, the results of an energy surplus, then, as the supply contracts, we could be expected to start fighting once again like cats in a sack.”

—George Monbiot