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SEMA eNews, Vol. 11, No. 29 - Jul 17, 2008
TRUCK SALES DECLINE BUT THESE MODELS STILL SELL
During the first half of 2008, pickup sales have dropped 23% compared to the same time period last year. The specialty-equipment industry has long revered the pickup segment for its growth and profit opportunities, but hikes in gasoline prices this year have taken a toll on recent sales.
AutoPacific, an automotive industry consulting firm, predicts that small, or compact, pickups will drop to 503,300 units sold for 2008, a decrease of 8% from 2007. Large pickup sales will endure an even more drastic decline of 20%, according to forecasts, ending 2008 with about 1,700,300 units sold. Overall pickup sales will drop 18% in 2008, according to AutoPacific data.
Still, the compact Ford Ranger and Toyota's Tundra and Tacoma have proven the most resilient among the steep declines, posting only single-digit losses from last year. The table below shows the top 20-selling pickups from January–June of 2008 compared to 2007 sales.
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