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Right House - A new approach to comfortable, healthy and energy efficient homes

SUVs plunge toward 'endangered' list

Monday, May 26, 2008
LOS ANGELES, California (CNN) -- Jorge Fernandez strolls across the used-car parking lot littered with dozens upon dozens of sport utility vehicles the size of small tugboats.

With gas at $4 a gallon, many have sat there since last summer.

"The cars are literally just sitting, and it doesn't matter how much you sell them for," Fernandez says of the SUVs and trucks nobody wants anymore.

"It's amazing. I've never seen it this bad -- ever."

Fernandez, a wholesale auto dealer who has been in the business for more than 20 years, says SUV owners are hit especially hard. The really large ones with V-8 engines that can get as little as 12 miles per gallon in the city -- like the Cadillac Escalade, Ford Expedition and Chevy Suburban -- are dropping in value by the thousands.
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