Small Car Bargains But as Oil Price Drops Will Anyone Buy Them?
January 1, 2009 by admin
Bargain Prices on Small Cars as Oil Gets Cheap.
Without a gas tax to keep prices high, small, efficient cars may never take off in the States, notes the New York Times. ABC news tells us that this theory may well be correct, with sales of small cars tumbling as oil prices dropped and the economy went into freefall. But for those of us who don’t believe that gas is going to stay cheap forever, or even think oil is going to last forever, now may be the time to pick up the small car of your dreams as dealers slash prices in an effort to boost sales:
With the recession making cars harder to afford, automakers are looking to price-cutting to attract buyers. Nissan struck first in October, offering a new version of its smallest model, the Versa, with a less powerful engine and fewer features. It was priced at $9,990. It didn’t remain the “lowest-priced new car in the U.S.,” as Nissan billed it at the time, for long. Hyundai cut the price of its Accent hatchback by $1,775 to $9,970. That’s $20 cheaper than the Versa. The move may pressure other automakers to make their economy cars even more economical.
The small cr segment has seen some extreme volatility in 2008 as sales doubled due to high gas prices in the first half of the year. Then by tumbled 68% from their peak by November. Now the problem is also the inability of young people to qualify for loans.
With recession making cars harder to sell, automakers are lowering prices to attract buyers. Nissan startd first in October, offering a new version of it’s smallest model, the Versa (pictured above) with smaller engine and less features priced at $9,990. The problem is that even at these prices it is proving difficult to sell.
While the uncertainty of recession is in the air, the cheapest car, is almost always the one you already own.
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