The gap between auto income and pickup truck sales got broader in October. The space widening was really kind of interesting. The assumption is that in a down economy, more people would be acquiring economical, gas-sipping cars with a low sticker price. There were actually far more trucks than automobiles sold.
Instead of cars, people are buying trucks
It was a good month for auto sales in Oct. They came out really good. The month had gains posted for nearly all auto makers. Toyota on the other hand, because of lawsuits and recalls losing respect from the public, reports losses. Truck sales made up 54 percent of new auto sales as outlined by USA Today. There have been incentives offered by Ford and Dodge where Dodge has its "60-Day Handshake" promotion so everyone who buys a Dodge Ram pickup can return the truck in 60 days while Ford had its zero-percent financing on auto loans for new pickups. The figure includes pickups, but also autos that technically use a “truck” chassis. SUV's, minivans and other vehicles were within the figure too.
Nobody cares about gas price
Fuel consumption is something that car buyers are aware of. Sales of hybrids are slowly but surely increasing, as are small cars that sip from the tank. That hasn’t slowed the sale of full size pickups. Gas is around $2.80 a gallon right now. Back when the truck and SUV craze was going, it was less than $2 per gallon. Work vehicles are what the majority of the purchases were for. Most companies haven't been able to afford to replace work automobiles such as trucks and vans because they don't have the auto credit needed.
Trucks keep on coming
Trucks are the bread and butter of domestic automakers. Ford makes the best selling pickup in the world, the F 150, set to debut with a turbo-charged V6 soon. There is a lot sold by GMC, Chevrolet and Dodge too. They aren't behind that much.
Articles cited
USA Today
content.usatoday.com/communities/driveon/post/2010/11/trucks-outsell-cars-by-widest-margin-in-five-years/1
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