Demand for small cars, crossovers soar along with gas prices

A growing number of SUV owners, like Yumberto Menicocci, are leaving the segment altogether. According to J.D. Power, nearly a third of buyers who traded in a mid-sized SUV picked a small crossover or compact car in the first quarter of this year. Just 5 percent upgraded to a larger SUV.

Menicocci, a resident of the upscale Miami suburb of Palmetto Bay, recently placed his 2003 Chevrolet Tahoe with leather seats and 39,000 miles for sale on Craigslist for $16,000 roughly $2,000 less than what his research determined was the Kelley Blue Book value.

He bought a 2003 Kia Spectra for $5,000 because he was tired of paying so much for gas with his heavy Tahoe. "I was wasting $30 a day compared to $10 a day," he said.

"Everybody is like, `What is that? Is that the maid's car?'" said Menicocci, who sells marble and granite for a living. "But I don't care. At this point, I'm way past looks and appearances."

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AP business writers Ieva M. Augstums in Charlotte, N.C., and Adrian Sainz in Miami contributed to this report.