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Cars Blog

Automakers fret over resale values of trucks, SUVs

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August 14, 2008 10:48 am
By Peter C. T. Elsworth

TRAVERSE CITY, Mich. -- Phil Awker's ad for a used 2004 Chevrolet Suburban has been languishing in an online classified for more than two months, even though it's priced $6,000 less than book value, according to USA Today.

Billy Roach's 2002 Jeep Wrangler has been up for a month on Philadelphia's Craigslist. He just wants to pay off his loan, Roach says, and he's hoping to get about $10,000 for it. Book value is about $2,000 less than that.

Such situations are popping up all over the country, and automakers worry that declining residual values -- how much vehicles are worth for resale -- will embitter their customer base.

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