And that means big profits for automakers as well.
It’s been a few years (since 2007 to be precise) but Americans are now buying up pickup trucks and SUVs once again at a surprisingly rapid pace. Despite all of the Washington D.C. political gridlock, still fairly high gas prices and more capable than ever crossovers, the lure of having a proper full-size truck or SUV is still appealing to many. Only late last week, the US national average price for a gallon of gas was $3.28, which is down 23 cents from one year ago.
Aside from this, automakers have found new ways to make SUVs and pickups more appealing with better fuel economy and by offering them with plenty of luxury features. A good example is the Ford F-150 with its EcoBoost twin-turbo V6 and an abundance of gadgets and other high-tech toy options that almost make it resemble a luxury sedan. All told, this sales trend is expected to continue. Sales for Ram pickups are up by 18%, 13% for Ford’s F-Series, 13% for GMC Sierra and 10% for the Chevy Silverado. The 2014 Dodge Durango has enjoyed a huge sales boost (58.5%) thanks to Ron Burgundy.