Marching Morons or Bargain Shoppers?
Jan. 26th, 2009 09:44 pmA Hybrid? Forget it, Say Rising Number of Pickup Buyers - CSMonitor - 22 Jan 09
"Thanks in large part to $10,000 dealer incentives and (relatively) cheaper gasoline, buyers are creeping out of the deep woods and urban jungles, emptying dealer lots of a gritty, gas-guzzling American icon: the full-size pickup truck.
With all other car-sales categories as flat as a mall parking lot, sales of trucks at some dealerships jumped by more than 30 percent in December – usually the slowest month of the year. In fact, dealers reported sales matching or surpassing figures from late 2007 – before the Wall Street meltdown, the freezing of credit markets, and the federal bailout of Detroit’s Big 3."
"Economists, however, caution against reading too much into the truck sale surge. For one, Detroit is practically paying customers to take bloated inventories off their hands, relieving pent-up demand. What’s more, the fundamentals of the auto industry overall point to a continued slowdown in sales this year."
"Thanks in large part to $10,000 dealer incentives and (relatively) cheaper gasoline, buyers are creeping out of the deep woods and urban jungles, emptying dealer lots of a gritty, gas-guzzling American icon: the full-size pickup truck.
With all other car-sales categories as flat as a mall parking lot, sales of trucks at some dealerships jumped by more than 30 percent in December – usually the slowest month of the year. In fact, dealers reported sales matching or surpassing figures from late 2007 – before the Wall Street meltdown, the freezing of credit markets, and the federal bailout of Detroit’s Big 3."
"Economists, however, caution against reading too much into the truck sale surge. For one, Detroit is practically paying customers to take bloated inventories off their hands, relieving pent-up demand. What’s more, the fundamentals of the auto industry overall point to a continued slowdown in sales this year."