ARLINGTON. Va. — NAFCU's Macro Data Report on Vehicle Sales today cites a trend that seems to be spreading almost as fast as the price of gasoline rises: American consumers are giving up the purchase of heavier SUVs and trucks for smaller, fuel efficient cars.
NAFCU staff economist Katrin O'Connor finds that the market shift is hurting domestic vehicle manufacturers and benefiting Japanese competitors. But even the sales increases of more gas efficient models aren't enough to boost overall sales figures, which fell slightly from 7.5 million annualized units in March to 7.4 million units in April. Blame the overall weakened economy for that drop, as not just the price of gas, but of food has risen substantially.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
