automotive

Experian Sees Strong Market For SUVs, Trucks

SUVs and TrucksGasoline prices are dropping. In the past couple of month, prices have gone from $4 per gallon to between $2 and $3. The question is, will drivers go back to big vehicles?

If one survey--from NPD Group--says no, a different study from Experian suggests there is still a strong market for SUVs and trucks nonetheless.

NPD's survey of 1,363 consumers also found that consumers have altered their commuting by carpooling, reduced or consolidated shopping trips, and avoided idling.

Of those surveyed, 61% said they do not plan to purchase a new or used vehicle next year. Of those consumers who said they were going to purchase a new or used vehicle, 41% said they plan to buy a more fuel-efficient vehicle, and 43% said they might buy a more fuel-efficient vehicle. The majority of consumers who said they would buy or possibly buy a more fuel-efficient car did not select a specific type of fuel-efficient vehicle, but 29% said they would buy a hybrid, per the firm.

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Experian says the number of pickup trucks and sport utility vehicles on American roads has not changed a lot this year, even with gasoline prices hitting $4. Pickup trucks account for 20.57% of all vehicles on the road, and SUVs account for 11.42%, per the Experian Automotive AutoCount Vehicles in Operation database.

"As fuel prices rose throughout the summer, conventional wisdom predicted sharp declines in the SUV and pickup truck markets," said Scott Waldron, president of Experian Automotive, in a release. "Yes, sales of new vehicles in these categories have dropped, but when you look at the total vehicle population of new and used vehicles, pickup trucks and sport utility vehicles have remained consistently strong as a leading category of vehicles on the road."

Among the 10 states with the highest number of vehicles, Texas has the highest proportion of 8-, 10- and 12-cylinder vehicles at 29.37%, while New York has the lowest proportion of these vehicles, 15.93%. Also, 26.91% of vehicles in Texas are pickup trucks, per the firm.

But Pennsylvania has the highest proportion of four-wheel-drive vehicles, while Florida has the lowest, notwithstanding beach driving.

California has the lowest proportion of gasoline/ethanol Flex Fuel vehicles, while Michigan has the highest. Still, Flex Fuel cars and trucks account for only 3.84% of the vehicle population in Michigan.

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