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March 22, 2005
High Gas Prices Hurt SUV Sales
Sports Utility Vehicle sales have dropped off as gas prices remain high. What about fast cars?
Rising U.S. gasoline prices are hurting sales of large sport utility vehicles and pickup trucks, according to some industry analysts, a trend that could stall a major engine of profits for Detroit’s automakers.
The gas-thirsty, full-sized SUV segment lost 1.2 percentage points of U.S. market share over the last two months and large pickups were down about 2 percentage points, according to Edmunds.com, which tracks the industry. Fuel-efficient compact cars, on the other hand, gained 2.2 percentage points of market share in the same period.
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Posted on March 22, 2005 01:59 AM by Sports15.
Filed in Fast Cars under sports utility vehicles.
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