Truck sales remain strong in June, easing worries

From the mini cars to the monster pickups, the sales of the new cars & trucks had surged in the month of June & it eased concerns which said that the Americans will get turned off by the slower hiring & other such scary headlines. The automakers had sold almost 1.3 million trucks and cars for June, up by 22 percent from same month in the last year. Chrysler had posted their best June for five years. The sales had soared @ Volkswagen too and is on the right track for the best year for U.S.A. since the year 1973.

These results had allayed the fears that momentum of car market had stalled. The U.S.A. sales were right on the track for reaching about 14.5 million after 1st 4 months of this year. But annual pace had dropped to about 13.8 million in the month of May, as stock market had plunged & the hiring had slowed. June had brought a lot of worrisome news regarding jobs growth & consumer confidence. However, the buyers did not go away in the last month. June’s sales speed rose to about 14.1 million, says the Internet. If the sales stay at this level for all of the year 2012, it’ll be this best year of the industry since the time of 2007.

The falling prices of gas, cheaper loans & newer models like Ford Escape & Dodge Dart had attracted the buyers. Revived market of housing had lifted the sales of the pickups. Also, there was a lot of demand from the people who had bought the cars in middle of last decade & had to replace them. The annual sales did hit high of about 17 million in the year 2005, & all those trucks & cars are now about 7 years old.

Alec Gutierrez, the senior market analyst @ Kelley Blue Book says that if any family’s only transportation mode at Iowa is on fritz, they’re gonna buy replacement vehicle, even if the economy of Spain is on brink of a collapse. Automakers had also started the promotions of Independence Day a bit early & this juiced the sales at end of this month. Bill Underriner who sells Buick, Volvo, Hyundai, & Honda at Billings in Mont said that in last 2 weeks, they really had gone all out.