Gas prices killing truck sales in Texas

When you think of Texas, what comes to mind? Big hats, oil and pickup trucks, right? Well, you might have to replace the trucks in your vision with a more practical and fuel efficient vehicle. High gas prices are reportedly killing truck sales in the state. One in four drivers in the state have a pickup, but that’s changing. Dealers are seeing 3/4 of their trade-ins being trucks. They can’t keep cars on the lot, but have all sorts of trucks. Last year, trucks and SUVS were sitting on the lot for an average of 89 days before selling. That number is up to between 132 and 147 days this year. On the other hand, the average for all vehicles has fallen from 70 to 60 days, indicating that cars are selling quickly.

Truck sales fell by between 6.5% and 13% last year depending on the make. Trucks and SUVs made up 61% of new car sales through the beginning of this year, compared to 64% in 2004. On the other hand, sales of the Prius have more than tripled over the same time.


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