At time of this writing, oil is above $110 a barrel. Gas in California could feasibly hit $8/gallon this summer if the trend continues.
If that comes true, no way sales keep up on SUVs like 4Runner, Wrangler, etc - right?
Maybe time to buy an EV before they become the desirable ones.
I wouldn’t expect better 4Runner deals because the gas prices are higher. Wranglers are already very cheap lately.
You’re asking a market timing question, and the answer is always the same.
Is there oil in Cuba?
Jokes aside, Cali wants to ban gas sale cars by 2035 if anything this favors this goal set by those officials to push ZEVs. Big displacement vehicles might take little longer to sell but you are not going to see some sort of fire sale. As for EVs becoming desirable because gas is high? In my experiece this has not been the case, ever, as insurance premiums ate away the gas savings. It is a wash.
While this is very true, I would think most people have a much more visceral (and negative) reaction to filling up a tank of gas at $100 vs. paying more for their 6 month insurance premiums. Not everyone thinks in TCO terms.
@max_g tell OP how bad leasing is and how depreciable assets should always be owned.
LMaO don’t put words in my mouth
You shouldn’t make a major move like a car based on fluctuating geopolitical factors. Also unless you drive a ton ( which may make leasing a bad idea) gas costs are fairly negligible, so unless you’re driving a v8 SUV barge , it’s not going to be that significant of a difference. Buying a new car to save on gas or electricity is largely overrated and nonsensical unless you get free charging or live in an atypical area.
New is the key word there. Most new cars are so expensive now that gas prices don’t really move the needle much. Although I do think the median American would do well to buy a fuel efficient car since for ICE vehicles, increased fuel efficiency tends to correlate with lower priced vehicles.
If you are looking used to save money, gas prices definitely matter more when one has a lower monthly budget for transportation expenses. And again there are often a lot of financial benefits of buying a fuel efficient car besides saving on gas both in terms of sales price and operating costs.
Waiting for @max_g to step in and say that the TCR (total cost of refueling) is not free because you spend so much time waiting at the one hydrogen station that actually has fuel
What happened to the oil we took siezed from Venezuela? 
We’ll see deals in big SUVs with V8s soon. People will start flooding into the lower end hybrids and efficient cars but it’ll take months of high oil prices to make a shift in the auto market. It won’t be overnight.
Don’t these cars already have fairly significant discounts? They’re overall fairly undesirable and sure high gas prices won’t help that.
Forget fuel efficiency, affordability is the key issue here. If consumers are spending an outsized portion of their income on energy, their ability to spend on things like cars drops. This industry is about to go through a nice little Find Out phase.
Always keep an EV in your garage LOL.
Polestar sales go brrrrrrr
$3.60 in Florida so far. Before the war, it was $2.68.
$100 to fill up a Armada
I guess but these cars are kinda niche not really major sellers for most companies. Folks already buy small sedans and small to midsize crossovers with good fuel efficiency. Big v8 SUVs don’t sell that many cars generally besides Escalades and Tahoes
