High fuel costs end US affair with SUVs
China Daily | Updated: 2008-07-01 08:02
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A man looks at a new GMC Yukon SUV at a dealership in Santa Clara, California. Bloomberg News |
Record fuel prices have ended America's love affair with the SUV.
But the break-up is proving to be more painful than anyone anticipated. Some US dealers have stopped buying used trucks. Lenders are bracing for losses. Automakers have slashed output, and Americans have seen the value of their big rides drop by thousands of dollars in recent weeks.
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