Here it is, first quarter of 2022 in the USA, and gas-guzzling SUVs and Pickups accounted for almost 80% of the overall vehicle market last year – up from 55% a decade ago!Buyers looking to avoid paying USD$4.33 a gallon for gas can only dream about the previous go-to vehicles, like fuel-efficient passenger cars and compact crossovers.
The new and used car inventories at U.S. dealerships for those vehicles is at an all-time low, as carmakers and the U.S. federal government push hard to eliminate ICE vehicles in favour of EVs.
However, whilst there is evidence of growing interest in hybrids and EVs, stocks of those are either thin on the ground, or at low levels of production in the case of EVs.
It seems there is nowhere to turn.
|Ford Maverick Hybrid|
Auto executives are bullish about EVs, but there’s a long way to go to fill the gap left by current ICE SUV and pickup owners contemplating ditching their gas-guzzlers.
In addition, the number of electric pickups and SUVs available to buyers is very limited, so owners of thirsty behemoths will have to put up with rising fuel prices likely over the next 2-3 years.
That will be the result from the Ukraine invasion cutting off oil from Russia; OPEC deciding not to increase output; lack of production from US shale oil fields, and Joe Biden shutting down the Keystone pipeline in the first days of his presidency.
Makes me think about my final weeks in the USA back in 1994, before I returned to Australia, and although I was driving a Jaguar XJ12, I was buying gas for 99c a gallon!
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