Would Price for Big SUV or Cars drop like in 2008?

  • Last Updated:
  • Mar 8th, 2022 6:44 pm
Deal Addict
Jan 23, 2006
1793 posts

Would Price for Big SUV or Cars drop like in 2008?

Hello there Guys;
I know there is shortage of vehicles in the world market; but we had seen similar economy downturn and rising gas prices in 2008.

I remember seeing big Discounts on Trucks and some big cars back than; What is the breaking point for the market?

Who is gonna take a casualty this time? What happens for long term trends if this is the new reality of high gas prices stay stable for the next six months.

I need to buy a new 7 passenger SUV soon; but this high gas prices are scaring me; is anyone in the same situation here?
5 replies
Deal Addict
Nov 7, 2012
1470 posts
I don't know if its just me. But I see an influx of gas guzzlers on FB marketplace. And fortunately they're not selling at insane amounts like most used cars. I'm assuming people are panicking and
want to get into something more economical.

OP your time to buy is coming. But don't expect the price of gas to ease up anytime soon. You will pay a premium to drive a large suv especially if it isn't a hybrid. But Hybrid/EV buyers are also paying a premium to have something now.

You either eat the cost of gas which will most likely be $30-45 on top of what it used to be last year or you pony up >$600\month to go hybrid/electric
Feb 17, 2022
68 posts
I doubted because back in 2008 our exchange rate is almost on par with USD. Now even with oil price up, our dollar is actually going down. I see there is a potential of a price increase. Also prepare for car interest rate to go up significantly to offset our inflation.
Deal Addict
User avatar
Aug 15, 2006
3908 posts
It all comes down to supply/demand and what the market is willing to pay.

Companies will charge as much as the market will allow, and right now with everything in short supply, and demand being high, price goes up. When this shortage ends, companies will "try" and continue to charge these high prices until the market fights back. Basically what I am saying is that as long as "we" as a whole decide not to pay these insane prices after the shortage, then companies will be forced to lower their prices to move volume, but we as a whole have to force them to do it. If ppl continue to pay these prices when this shortage ends, then the prices will stay where they are because why would companies lower their prices if the market is willing to pay these new MSRP?
Deal Addict
Oct 13, 2006
2824 posts
Many of these get such good fuel economy for what they are essentially a box on wheels. Get a Toyota Highlander with Hybrid. North America mindset is unlikely to change, yes there are more compact/subcompact CUV, but there is insatiable appetite for more space constantly and for car makers its more profit. Who really needs a luxury pickup truck, but yet here we are. Also seeing more and more Ford F-150 Raptors and Ram TRX.

I havent looked to see what drivetrain options the new Toyota Sequoia will have but they did a good job on it i must say
Deal Guru
Oct 6, 2007
10263 posts
The reason for the downturn in car prices in 2008 had less to do with fuel prices than the collapse of the financial market. For 8-10 months, it wasn't possible to borrow money. Manufacturers and dealerships were stuck with product that they couldn't sell because nobody could borrow money to buy a car. Nowhere near the same today.


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