Plummeting Gas Prices Contribute To Surge In SUV, Truck Sales
By Paul Kurtz
MONTGOMERYVILLE, Pa. (CBS) - Buying habits of motorists are changing in part because of falling gasoline prices.
Don Franks, President of JL Freed Honda in Montgomery County says SUV sales have been surging since late last summer when gas prices began to tumble:
"CR-V sales increased by 10 percent of the share of vehicles."
Sagging pump prices come at a time of low interest rates and longer loan terms. Kevin Mazzucola, Director of the Auto Dealers Association of Greater Philadelphia, says it's also about the amount of money you have to spend on a vehicle:
"So if you know your cost to operate a vehicle will be, say 60-70-80 dollars less a month, well, maybe I can add that to what I can budget for my vehicle purchase and that may have an impact on the type of vehicle or the level of vehicle in which they buy."
The top selling vehicles of 2014 were the Ford F-150, the Silverado Sierra and the Dodge Ram Pickup.
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