[Brilliant]

You can buy an SUV very cheap right now. That's why they sell so many of them. I tried to trade mine in a month ago. Paid $35,000 for it 5 years ago. They wouldn't even give me $3,000 as a trade in, and that was assuming that it was in good condition.

[ExitPurgamentum]

I believe you, of course, and not surprised: people act on the total cost of ownership. With gas prices up, the cost of the vehicle goes down. This is much like fall in house prices when interest rates rise.

But the fact that SUVs are still being hot, however, tells us that people perceive prices of gas as still low.

What's even more telling is that DEMAND for gas was up in July, together with prices.

[GOP_1900AD]

Actually not true at all. Light truck and SUV prices are starting to rise!