Although pickup sales have been lagging over the past few months, the market improved during the month of August. The recent decline in the segment was blamed on a housing market slump and higher gas prices, but increased incentives were able to bolster the market.
Pickup truck sales accounted for 14.89% of the overall market, a 20 month high for the segment. According to J.D. Power and Associates, pickup trucks averaged $4,500 in incentives each, the highest offered since July of 2006.
It’s no secret that domestic automakers have been hurt by the decline in pickup truck sales and GM has already decided to cut production at several of its plants. It appears that automakers will have to continue offering incentives in order to spur pickup truck sales, at least for the time being.
