When gas prices approached and then topped the $4 mark earlier this year, truck and SUV buyers headed for the hills – presumably to never be seen again. But a funny thing happened between June and August, and it might have been just enough to lure potential truck buyers out of the holes they were hiding in: Gas prices tumbled by about 40 cents.
Believe it or not, the best-selling car in August wasn’t a four-cylinder economy car. And it wasn’t even from Toyota or Honda. It was the Chevrolet Silverado with 55,765 sales.
“With the recent moderation of fuel prices, we’re seeing some relaxation of pent-up demand in pickups and utilities,” Mark LaNeve, vice president of GM North America sales, service and marketing, told Automotive News. Pickup truck sales rebounded better than their SUV counterparts, likely because of their main commercial, rather than personal, uses.
Despite the moderate August success, the truck market is still a far cry from what it used to be. In fact, August sales were down more than 17 percent from the same month a year earlier.
GM knows that the better-than-expected results aren’t an indication that the truck market will “snap back”, as LeNeve put it, but it’s a bit of good news for the Detroit automaker. Trucks have traditionally been GM’s biggest money makers and, even with the employee pricing event, August’s sales will help to put a little extra coin in the automaker’s pockets when it needs it the most.
It remains to be seen if full-size vehicles sales have truly bottomed out, but if gas prices can remain relatively flat, trucks and SUVs could see a slight rebound, although they will probably never get back to their historical highs ever again.
09/04, 6:38 PM
posted by:
johnnycanuck
I’ll bet the majority of those buyers got a screaming deal to boot. Everyone loves a bargain.
09/04, 6:41 PM
posted by:
projectzr1
Well as sad as i am to say it American hasn’t learned a thing if the most populous car off the lot is the Silverado again.
09/04, 6:44 PM
posted by:
inline6
projectzr1, the Silverado has been the most populous car off the lot for a couple of decades now. And gas hitting $4.50/gallon didn’t change that, either.
In fact, the Silverado outsold the F-150 by about 15,000 units last month.
09/04, 7:13 PM
posted by:
Blakkarr
I’ll say it again. Don’t call me unless they make a full-sized truck that can return over 30mpg.
09/04, 8:01 PM
posted by:
JoshyLofty
i’m surprised “more oil for GM” isn’t on here claiming the reason of this is cuz ppl realize what they’ve been missing: a GM! loser.
09/04, 8:18 PM
posted by:
Gundy
I knew it would happen. People in this country will not ever change unless they’re forced to change. It will never happen. Short-sighted meatballs. I guess that’s the free market system at work, but it’s not good for the long term.
09/05, 11:22 AM
posted by:
hbcbob3
The reason the Silverado outsold the F-150 is because GM is actually trying to do something to increase their MPG in the trucks. Ford is just making big turds that get bigger and uglier.
09/05, 8:07 PM
posted by:
sharpie
GM Employee Pricing did the trick. Wait till September, it will post the worst record among all trucks.
09/08, 11:27 AM
posted by:
HolyDogWater
Yes Gundy, it’s that evil free market system that has given us the garbage vehicles we’re forced to drive today. If only we consumers could enjoy the type of cars the Soviets got to enjoy during the cold war.
Do you actually think GM should stop making the best selling vehicle in America? I guess you would make a great CEO after all.