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Small SUVs Are Selling Quite Well

May 5 2014, 7:59am CDT | by , in News | Cars & Vehicles

The sales of small SUVs are occurring at a fast pace. These classic vehicles are selling quite well once again after a temporary slump.

Small SUVs Are Selling Quite Well
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Small SUVs Are Selling Quite Well

Carmakers have reported greater sales of their standard vehicles this year. At least that is what the statistics indicate. Since last year, the sales have undergone a considerable increase. 

This April, 1.39 million vehicles got sold in the open markets of the US. That tops the previous year’s bear market by 8.1%. Go back one month and it was just stuck at 5.7%. Sales had started to slow down yet they have re-ascended the bar graph of profitability. 

And despite the recent interest in hybrid models and fuel-savvy vehicles, people still preferred trucks and SUVs. Sports utility vehicles (SUVs) are much more popular than cars, pickup trucks and vans. 

A senior car analyst at Edmunds.com, Jessica Caldwell, said, "SUVs, in particular, are not only selling well, but they are selling at a quicker pace than cars, pickups, or vans. SUVs are selling, on average, 20 days faster than other cars and trucks."

The sales trends at GM increased in the SUV category by 7% since April. The vice president of GM sales operations, Kurt McNeil, has spoken regarding this new blip on the horizon. It is a sign of optimism. The economy appears ready to recover from the blows of the past. 

"The economy continues to strengthen," McNeil said. "Retail demand was steady in April, and truck sales and transaction prices were especially strong."

Chrysler had a growth percentage of 14% from the figures in 2013.  Only Ford Motors showed a fall in its profits. Demand levels fell by 1% in its case. 

Alan Mulally has been replaced by Mark Fields at Ford Motors. We have yet to see what miracles in growth and profitability this changeover will engender. 

Meanwhile, Toyota’s sales have shot up by 9%. The Japanese car company has never seen days like these since seven years ago when it was in peak form. 

"Sales momentum from March rolled into April pushing the industry to its best back-to-back monthly sales pace since fall of 2007," said Bill Fay, Toyota division group VP and GM.

And another Japanese giant, Nissan also saw a burgeoning of sales by 18.5%. However, Honda’s state was in decline. It saw a downward trend by 2.9%. 

"Even though our April sales were off slightly, it was still one of the 10 best sales months in American Honda history," said Dick Colliver, Honda EVP of sales. "The market is very competitive, but there are still plenty of people out shopping for cars and trucks."

Therefore the overall direction seems to be one of economic hopefulness and rising expectations. A few pockets of depressed sales don’t mean much when the market is all set to progress into higher spheres.   

Source: Yahoo! News

 

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<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
Sumayah Aamir (Google+) has deep experience in analyzing the latest trends.

 

 

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