High Gas Prices Forces Car Manufacturer to Shut Down

Mark Sherman
Mark Sherman

HONOLULU (KHNL) -- Soaring gas prices are having a huge impact on the car industry.

One major manufacturer announced a shutdown of some of its truck plants.

It's following the same pattern.

Down on bigger vehicles.

Dealers say if you've ever thought of owning one, this is the time to buy.

The roar of pure American muscle.

With gas prices the way they are, buying a new corvette may seem like committing financial suicide.

But for others, the purr is worth every penny.

"People that are looking for a performance car and want a certain vehicle, they're not gonna let the fuel mileage really hinder them in purchasing a car," said Mark Sherman, General Sales manager.

And now is the best time to buy one of these vehicles.

"Right now, dealership inventory are very high, so it does make it a buyers market," Sherman said.  "We have several vehicles available, both new and pre-owned, we're getting up where the model change is coming soon, so there's great incentives, and selection's never been better."

JN Automotive admits sales are down on its bigger cars and trucks.

And the slowdown is hitting everyone.

GM's CEO announces Tuesday it's closing four truck plants, and is looking at selling the hummer brand.

But with huge factory rebates and dealer incentives, dealerships hope all that changes.

"So there's some great value in that in getting into a new vehicle," said Sherman.  "Even though the gas prices are a little higher people with families still need to have large vehicles to carry them."

Manufacturers also make hybrid trucks and SUV's for those of you who want the big car or truck, but are afraid of getting one because of high gas prices.

JN Chevrolet says its hybrid Tahoes are hot sellers.