Gas prices hit SUV sales 23rd May 2005
Gas prices have been blamed for a fall in sales of Sports Utility Vehicles (SUV).
American drivers have reportedly been put off the larger, less fuel-efficient vehicles as a volatile oil price continues to push up prices at the pumps.
Concerns over the security of supply has seen oil hit record highs, putting real pressure on motorists in the US who not only rely on their cars but are used to relatively cheap fuel.
Despite these concerns in real terms, fuel is in fact cheaper than it was in the 1980s.
Speaking to the New York Times, JD Power & Associates analyst Tom Libby, said: "Gas prices are having a much more minor effect than they did in the '80s."
Mr Libby suggested that it was in fact competition from new midsize luxury cars from manufacturers like Acura, Lexus, BMW and Infiniti that was squeezing the SUV market.
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