October 19, 2006
Sales of large pickups and SUVs revive as gas prices drop, says J.D. Power
Westlake Village, California – The recent decline in gas prices is good news for large pickup and SUV sales, which had been adversely affected by higher fuel prices earlier in the year, according to transaction data from J.D. Power and Associates Power Information Network (PIN).
Owner retention rates for the large pickup, large utility and midsize utility segments have all risen in the seven-week period from mid-August to early October, a time period during which gas prices steadily dropped. Owner retention is measured by the percentage of owners in any given category who trade for another vehicle in the same category.
The large pickup, large utility and midsize utility segments account for almost one-quarter of new-vehicle sales, a combined 23.5 per cent year-to-date through September.