You might have noticed less and less people driving around with SUVs in recent times. SUVs were incredibly popular with the masses in the noughties and were still widely in use at the start of this decade. However, as the decade progressed, they essentially stopped being used by people entirely, to the point that it was hard to find an SUV on the road. Over the last two or three years the situation was quite dire for them. However, recently some SUVs have made their way back on the road and people seem to be trusting them again. To see why that is, we need to know why SUVs actually went out of fashion.[BUTTONS1]
Why SUVs Decreased in Popularity
The main reason for SUVs to go down the pecking order in public usage of cars is the price hike of gasoline that the entire world experienced earlier this decade. Due to multiple factors, the price of crude oil increased manifold and made gasoline prices sky high for a long time.[BUTTONS2]
SUVs are big vehicles, and with their size they also require more fuel. Before, people used to purchase them because of the large amount of room they provided. However, when gasoline prices soared, the SUVs stopped being attractive for their space and comfortableness.
When the gasoline prices rose to highs where the fuel costs of a SUV would cost people a major part of their salaries, they decided to cut back and buy sedans and other options instead. This led to the entire market around SUVs crashing and people outright rejecting them.
However, recent developments have once again shifted focus towards them and people are now starting to trust SUVs once again. Let’s take a look at why that development came about and how it will develop.
The Comeback of the SUVs
The first factor we need to discuss when it comes to detailing the renaissance of SUVs is the decrease in gasoline prices. With the discovery of shale oil and more oil wells all over the world, the price of crude oil has gone down and hasn’t shown a huge hike like it did at the start of the decade. The decrease in fuel prices has made it more appropriate for SUVs to be used. However, the decrease in gas prices is not the only major factor at play here.
When the popularity of SUVs decreased and they stopped being bought by people, it led to their prices decreasing drastically. SUVs have since devalued to the extent that they cost far less than newer sedans. This means that the people who can afford the fuel costs, especially now with the cheaper fuel, can easily make use of those SUVs.
Recently, many different companies are creating SUVs with their previous limitations in mind. They are trying to create new cars that will give users better fuel economy, while keeping the space and functions that SUVs are recognized for. Moreover, these car manufacturers are also trying their best to move the market towards buying the SUVs as well.
For that, Fiat, Toyota, and Ford are currently offering cash back and many different financial options on their new SUVs. These financial options make it easier and far cheaper for people to buy SUVs. It might be more inexpensive to get an SUV now as compared to sedans or other cars. Other major car manufacturers are quickly following suit, making this is an exciting time for SUVs. If you were ever interested in buying an SUV. Now would be the best time for it.