The relentless increase in gasoline prices in 2011 has thrown consumers in a panic not seen since the last price crisis in 2008. The summer of ’08 saw a peak in fuel costs that then subsided relatively quickly. The same may yet happen this year – in fact, costs have dropped 20 cents per gallon since their early-May peak – but the decline has been relatively slow, and there is a danger that prices in the high 3 dollar range may become the new norm.
This has had a quick and immediate effect on the consumption patterns of auto buyers, who are flocking in droves towards smaller vehicles. Car sales overall have declined. The biggest hits have been suffered by pickup trucks and other large, fuel-inefficient vehicles such as Ford Explorer and other SUVs.
To reverse this trend and entice customers, Maryland Ford dealers are coming out with promotions on new vehicles. If you have the money, take advantage of this buyer’s market and look into getting a new car today!