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Auto news; Oil Prices Tumble – SUV And Truck Sales Poised For Sales Recovery? In a year that’s been a stomach-turning roller coaster ride for stock values, political campaigns, and fuel prices, the latest flip-flop has been the free fall of the price of a barrel of oil. Cresting on July 3 at $145.29, Automotive News reports that a barrell of oil is now valued at below $70. That’s a drop of over half its ..Auto news;

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In a year that’s been a stomach-turning roller coaster ride for stock values, political campaigns, and fuel prices, the latest flip-flop has been the free fall of the price of a barrel of oil. Cresting on July 3 at $145.29, Automotive News reports that a barrell of oil is now valued at below $70. That’s a drop of over half its value in only four months.

Is this a harbinger of a global recession, or a sign for automakers to start ramping up production of Suburbans, Sequoias, and Expeditions?

Automotive News’ Richard Truett taps Ford Motor’s sales analysis and reporting manager George Pipas to shed light on the situation. “The driver of new-car sales has and always will be job and income growth,” said Pipas. And just as succinctly, Automotive News concludes, “almost no one expects rapidly falling gasoline prices to restore pickup and SUV sales.”

With the Dow in critical condition, and Americans watching fearfully as their investments teeter and their 401Ks tumble, it doesn’t look like the the full-frame, gas-guzzling SUV is poised for a comeback. And even with full-sized trucks like Ford’s new F-150 improving their fuel consumption, we’d be surprised to see anyone who didn’t absolutely require the utility of a full-size truck using one as a daily driver.–Colin Mathews