Watch VideoThe Rise of the Geo Metro
Story By: Andy Koen
Source: KOAA
Published Sun Jul 27, 2008, 08:12 PM MDT
Updated Mon Jul 28, 2008, 10:43 AM MDT
Call it an automotive underdog story. The humble Geo Metro, once scoffed at by auto enthusiasts, has found a fresh market of buyers, looking for relief from four dollar a gallon gas.
Adam Kevil calls the auctions for the Colorado Springs Police Department impound auction. In his 20 plus years of auctioneering, he says the jump in prices for used Metros is unusual. Whereas two or three months ago a Metro would sell for $300 - $500, Kevil says these days Metros are selling for $1,000 - $1,500.
“People have decided they don’t care what they look like, they want to spend less on gas,” Kevil said.
Used Metro’s are fetching even higher prices online. Metro owner Jeremy Buck says even paying a premium price at auction, there is still money to be made reselling Metros on the internet.
“If you pick one up at auction for $1,000 - $1,500, you can more than double that with resale via eBay or Craigslist right now,” Buck said.
Buck bought his Metro XFI last month to help lower the cost of his commute. He says the Metro engine distinguishes it from other sub-compact and economy cars of the 1990’s.
“It’s just the particular 3-cylinder, 1.0 Liter engine in this Metro, it’s at least 10 miles per gallon over the competition,” said Buck.
The XFI’s motor puts out about 55 horsepower, roughly the strength of two heavy-duty lawnmower engines. At the time, the Environmental Protection Agency gave the car a fuel economy rating of 55 miles per gallon combined and 58 mpg highway. Even under the newly revised fuel economy standards, the Metro XFI still boasts 46 mpg combined and 51 mpg highway which puts it on par with the gas sipping hybrid-electric cars of today such as the Toyota Prius (46 mpg combined/44 mpg highway.)
There were around 700,000 Metros manufactured during the 1990’s and many of them are still on the road. However, Metros were seen as throw-away cars and when they reached the end of their lives many were simply compacted and sold as scrap metal rather than salvaged for spare parts.
With time, existing stocks of Metros have increased in value because of the unique 3-cylinder engine and the decreasing availability of spare parts. On top of that, demand is growing from a market place weary of high gas prices.
Find out the fuel economy of your car. Click here to use the EPA’s fueleconomy.gov site to look up current and official mileage estimates and do side-by-side comparisons of up to four vehicles at once.
