Strong June Pickup Truck Sales Indicate More US Housing Starts
By admin - Sat Jul 07, 11:17 am | 0 Comments | 0 views
All the major auto makers had posted huge gains in the sales of pick up truck for June, which is mostly slow month for all such sales, as the contractors had replaced the older trucks due to rebound in the construction & the starts of new home. Detroit 3 especially had enjoyed big gains in the last month for sales of pick up trucks over previous yr. Chrysler Group LLC, which is subsidiary of the Italian Fiat SpA, pick up truck sales went up by 12 percent, the General Motors Company (GM) sales of pick up trucks rose by 11 percent & Ford Motor Company (F) sales of pick up truck went up by 1.2 percent. Leading pick up model of truck Ford, truck of F-series, had the best performance of sales in June since before financial crisis of 2008 & collapse of housing.
The contractors are weathering on going doldrums at starts of new housing in the part by allowing the trucks for aging, & current vehicles fleet in U.S. is now approaching about 10 years in terms of age, “quite high old age,” says Jeff Schuster, who is senior VP or vice president at LMC Automotive. This increasing vehicles age has led to the significant demand of pent-up, & the sales of truck had soared in the month of June along with a lot of dealerships reporting that the contractors especially were purchasing new pick up trucks at droves.