SUVs make a come back
Compared to last year US auto sales are up 17 percent and the biggest surprise in that turnaround is the increase in large SUV sales according to recent reports.
Large SUV sales have increased 19 percent. Compacts have picked up share, but sales are only up 14 percent. As of June, hybrid cars, on the other hand, have witnessed a 17.5 percent decline in sales.
Large SUV sales are good for automakers because it’s basically like “printing cash,” says Jim Hall at 2953 Analytics.
Nonetheless, since the gas spike of 2008 cars are still outselling trucks, so automakers – or consumers – appear to be learning how to redefine success in America using more efficient vehicle designs, at least somewhat more efficient designs. Of course, declining interest in hybrid cars during this same period of time demonstrates just how hard significant reductions in oil consumption will be to achieve.