SOURCE: LeaseTrader.com

LeaseTrader.com

March 16, 2011 12:51 ET

LeaseTrader.com Says Americans' Appetite for SUV/Trucks Still High Today

Consideration for Biggest SUVs & Trucks Today Shows Similarities Compared to 2008

MIAMI, FL--(Marketwire - March 16, 2011) - The 2008 gas price hike saw many people using LeaseTrader.com to transfer out of an SUV lease and large truck lease contracts. But with gas prices rising again just three years later, experts at the online car leasing trade marketplace are wondering if the American driver can truly escape its gas-guzzling habits. According to data from LeaseTrader.com and Edmunds.com, the American appetite for large SUVs and trucks today is as high, if not higher, than that of 2008 levels.

LeaseTrader.com helps a person escape an auto lease by transferring the remaining portion of the contract to a credit-qualified individual. In 2008 it was understandable why a person transferred out of an SUV or truck lease when gas was above $4 a gallon. In a survey of 500 drivers who used LeaseTrader.com for lease transfer of an SUV because of gas prices during 2008, roughly 58 percent are back in an SUV today.

The automotive industry has done an exceptional job designing more fuel-efficient vehicles and creating buzz around them. But SUV and truck vehicle consideration is as high today compared with 2008.

LeaseTrader.com's Vehicle Leasing Consideration Comparison Data

Vehicle Segment June 2008 February 2011
Large Traditional SUV 4.1% 4.4%
Large Truck 3.9% 4.1%
Midsize SUV 3.5% 3.8%
Premium Luxury SUV 4.2% 4.8%

"Despite growing concerns about rising gas prices, interest in SUVs and large trucks remains relatively high," stated Edmunds.com Senior Analyst Jessica Caldwell. "Having watched consumers react to gas price fluctuations in the past, I am seeing that consumers are now less inclined to let the price at the pump affect their vehicle choices."

Edmunds.com's Industry-Wide Vehicle Comparison Data

Vehicle Segment Consideration June 2008
Market Share
February 2011 Market Share June 2008 Consideration February 2011 Consideration
Large Traditional SUV 2.1% 2.1% 2.1% 2.0%
Large Truck 7.8% 11.2% 2.8% 3.8%
Midsize SUV 1.2% 1.7% 2.9% 3.5%
Premium Luxury SUV 0.4% 0.5% 0.6% 0.9%

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