U.S. pickup sales boosted by rising farm incomes

Article by Christian A., on October 24, 2010

As the US agriculture industry improves, pickup sales are expected to also rise. The increasing farm incomes give automakers the extra momentum they need as they are recovering from the worst sales in nearly three decades.

Autodata Corp., a Woodcliff Lake, New Jersey-based researcher, said that pickup sales increased by 14% to 1.2 million during the first nine months of the year.

The gain outpaced the 10% increase in overall industry deliveries. Mark Fields, Ford Motor Co.'s president of the Americas, said in an interview, “Agriculture is helping out.”

He explained that when there’s a good harvest, farmers are able to invest and are likely to consider the pickup as a primary tool. The prices of grain have risen sharply after crops were ruined worldwide because of droughts and flooding.

There were recent reports of ruined crops in Russia and Canada. The US Department of Agriculture data indicate that US agricultural exports increased to $69.8 billion from $61 billion during the first eight months of 2010.

“It makes intuitive sense that if the agricultural industry is rebounding that pickups would come along for the ride,” said Joe Barker, an industry analyst with IHS Automotive. [via autonews - sub. required]

If you liked the article, share on:

Pin It

Comments

Recommended

Top Gear has revealed that for its “Stars in a Reasonably Fast Car” segment, it will now be using a slightly enhanced Toyota GT86, which in the U.S. market is...
by - March 24, 2017
Porsche is laying aside any plans of pushing another hybrid hypercar into their line-up -- at least not at this time. Oliver Blume, Porsche Global Chief confirmed in a recent...
by - March 24, 2017
Since 1993, Lexus has produced 4 generations of the Lexus GS, with the GS F amongst its newest member of the family. Unfortunately, rumors are also heating up that the...
by - March 24, 2017
In a leaked image following a presentation held in China, we learned that Czech automobile manufacturer Skoda will soon unveil 2 more new SUVs in China, resulting in a four-model...
by - March 24, 2017
McLaren is said to be designing the next generation of Sports Series, which could include a V6 hybrid among its powertrain options. It was earlier reported that the British automaker...
by - March 24, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries