Saturday, May 24, 2008

Demand Drops as Price Increases

No surprise here, but the numbers are interesing.

Americans drove less in March 2008, continuing a trend that began last November, according to estimates released today from the Federal Highway Administration....

The FHWA’s “Traffic Volume Trends” report, produced monthly since 1942, shows that estimated vehicle miles traveled (VMT) on all U.S. public roads for March 2008 fell 4.3 percent as compared with March 2007 travel. This is the first time estimated March travel on public roads fell since 1979. At 11 billion miles less in March 2008 than in the previous March, this is the sharpest yearly drop for any month in FHWA history.

Maybe spending $Umpty-Zillion on I-94 from Illinois to Milwaukee is ...ill-advised?

HT: Calculated Risk


Disgruntled Car Salesman said...

Still better than spending umpty-zillion on a second commuter train to nowhere.

Anonymous said...

Herbie is just useless.