SUV Sales Set To Decline In FY2007
According to a report from accounting firm KPMG, the bears outweigh the bulls in the number of automotive industry executives that see any potential for growth in SUV sales this year. In a survey that audited (that's what they do) the opinions of some 150 industry insiders from around the world, the trend in thought was telling (if not already obvious to the consumer).
As can be readily surmised, the price of oil reflected at the pumps was the chief culprit for the projected decline.
"[T]his loss of confidence comes at the same time that 79% of the executives surveyed agreed that oil prices have now permanently changed consumers' purchasing habits – a figure which rises even higher amongst the North American (85%) and European (84%) respondents."
The report suggested that the great swap – that is drivers trading in their gas guzzling SUVs for fuel efficient vehicles – was set to continue this year.
Special thanks to KPMG UK Communications Director Gavin Houlgate for his assistance with this report.
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