Saturday, June 21, 2008

Truck Sales Slowing? Duh.

Ford Motor Company announced that it is holding off until September before launching its 2009 F-150. Anyone who didn't see this one coming is blind. Gas fluctuates day-to-day between $3.80 and $4.15 a gallon, and it can cost more than $50 to fill up even a compact car that has an empty tank. No one is buying pick-ups now except for those who have short commutes and otherwise do not depend on a truck for long hauls. At $35,000 for a new pick-up with just a few added options and the price of gas and diesel as high as it is, most consumers can't afford to buy, even those that have been living from credit card to credit card. Last month the F-150 was replaced as the country's top-selling vehicle by the Honda Civic. The F-150 had held that spot for 26 years -- since the last time gas prices went nuts and recovered.

Jobs are sure to follow as sales and production continue to drop. The market for smaller vehicles should see a bump, but not enough of one for all of the truck workers to keep employed. The auto industry is tanking. Yet our legislators refuse to do anything about it. Congress and the President bear fault here. For years they have stifled new energy initiatives and responsible use of traditional sources of fuel. They have stuffed their pockets with special-interest money at the expense of the country's economy. They should repair their damage by opening domestic reserves, repealing fuel taxes and surcharges, and allowing new drilling. It will be a long road to recovery, but we need to start now lest we lose our way back.

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