$3.50/Gallon? Fine. US Auto Sales Up 27% YOY In February; Truck/SUV Sales Up 32%

[hatrack]

NEW YORK (CNNMoney) -- Rising gas prices did not keep Americans from buying large pickups and SUVs in February, according to sales results from leading automakers.

Industrywide U.S. auto sales shot up 27% compared to a year ago according to sales tracker Autodata. That's well above forecasts of about a 19% increase. The sales rate was the best since the Cash for Clunkers program, and at that pace, sales could reach 13.4 million vehicles over a full year. The month was particularly strong for the sale of light trucks, such as pickups, vans and SUVs, even in the face of higher gas prices. Truck sales rose 32% and had the best sales rate since before the financial meltdown.

"We're seeing consumer demand coming back stronger than we anticipated, along with loans and leases becoming easier to get," said Jesse Toprak, analyst with TrueCar.com.

Toprak said the two types of vehicles getting the most attention from buyers are small cars and full-size trucks, demonstrating that while fuel economy is becoming more important, there's still a lot of pent-up demand for larger vehicles.

EDIT

http://money.cnn.com/2011/03/01/news/companies/gas_price_hike_impact_on_february_auto_sales/index.htm

[marmar]

1. Fool me once, shame on you.....Fool me twice, I must be an American.

nt

[Atypical Liberal]

10. I'm not fooled.

I'm strongly leaning towards the Nissan Leaf as my next car.

[Marblehead]

2. I want an air car

http://www.youtube.com/watch?v=FKc46Bihi3s&feature=related

[One_Life_To_Give]

3. Not Surprising

Some people need full sized trucks. And future costs and capabilities of them are uncertain due to rule changes.

[Warpy]

4. Every time gas prices dip below a magic $2.50 nationwide

it seems people take the opportunity to go blow money they don't have on Stupid Useless Vehicles.

I don't get it. I also don't have a scrap of sympathy for them as gas prices head back up toward the $4.00 point. Yes, those prices hurt me, too, but they hurt a hell of a lot less filling the small tank of a 4 cylinder Kia econobox.

[Cobalt Violet]

5. I'm going Hummer shopping this afternoon.

:rofl: :hide:








:sarcasm:

[phantom power]

6. Prices spiked up pretty recently...

Wonder what sales will look like in another couple months?

[Nihil]

9. Probably comical ...

... amidst the usual cries of "Subsidized forrin imports takin' our jobs!!" ...

:eyes:

[happyslug]

7. Small Cars and Full Size Trucks?

Midsize SUVs are NOT selling? "Full Size Trucks" could include Suburbans, but I suspect it does not anymore. "Full Size Truck" are Trucks with beds i.e. real trucks 1/2 ton, 3/4 ton and one ton trucks. Given how these are used (Construction and other work related), and how few have been sold in the last 3-5 years (Ford even closed down its 3/4 ton truck factory) what you may be seeing is just Construction and other work related businesses finally needing to replace their older trucks. The term "Full Size Trucks" had included Suburbans and other large SUVs in the past, but even the 3/4 ton versions of Suburbans were purchased by construction and other work related firms NOT people for their own personal use (Most Suburbans bought by people for their own use were 1/2 ton Suburbans not 3/4 ton Suburbans).

At times the best vehicle for a job is a Full Size Truck, and those have to be replaced every so often. The bust since 2005 put a dent in such replacements so that many companies have to do so NOW or face higher costs just keeping the current trucks on the road.

The real significance is that it is Small Cars that is the other major increase, not mid size SUVs, not Vans, Not Minivans, but small cars. Fuel is becoming more and more a factor in buying a new car.

[appal_jack]

8. bought as efficient as I could...

Last year I bought a Toyota RAV: 24 mpg in town & a little better on highways. During its first 5000 miles, the skid alarm (dumb feature, "beep-beep-beep" and a flashing dashboard light at precisely the second you should be most focused on the road) has gone off plenty of times in deep snow and crazy mud (I've trained myself to ignore it and stay focused on the road).

I travel a poorly maintained dirt road and cross a 5000'+ pass on many days of work commutes, so a Prius is just not an option. Even the Honda Element did not have enough ground/snow clearance for my needs, but the RAV is just right.

Would I love to get 35+ mpg? Sure. But 24 mpg with 4wd is the best I can do...

:shrug:

-app