• The New York Times, Friday, January 4, 2008 11:17 AM

Auto companies have long relied on pickups as a steady supplier of hefty profits, but final sales tallies announced yesterday show that 2007 is the year the pickup hit the wall. Analysts say that high gas prices, the housing slump and the uncertain economy are causing pickup drivers to hold off trekking to the dealer.

At Ford, sales of the F-series pickup fell 13.2% in 2007, even though the F-series was the best-selling vehicle in the country for the 31st straight year. At General Motors, sales of the Chevrolet Silverado-- which got off to a strong start when it was introduced last winter-- fell 2.8% in 2007 and now carry rebates of up to $2,000. Meanwhile, Toyota missed its sales target of 200,000 new Tundra pickups, winding up about 4,000 short. It's a rare disappointment for the automaker, which deliberately sets conservative sales goals.

Chrysler will unveil a new version of the Dodge Ram at the Chicago auto show in February. Ram sales fell 2% in 2007, and Chrysler introduced a new incentive program yesterday, offering interest-free loans or $2,500 rebates on many of its vehicles.

Read the whole story at The New York Times »