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:

Comments

Recommended

Earlier this week, Nissan revealed a teaser of the new 2018 LEAF’s interior, giving us an idea of what the electric vehicle has to offer. The company released a video...
by - June 25, 2017
The primary suggestion of a 4x4 ute from French company Peugeot was first revealed in 2016. Fifteen months later, the production version is launched. Now, Peugeot is not shying away...
by - June 24, 2017
The new Jaguar E-Pace crossover will soon hold its official launch on July 13 and is expected to arrive at the showrooms by early next year. It couldn’t have come...
by - June 24, 2017
As prices of the original Shelby Cobra have skyrocketed into astronomical proportions, there are firms like Superformance that serve replicas to consumers who demand the same levels of performance at...
by - June 24, 2017
New and improved 2018 Subaru Legacy comes packed with a number of upgraded features from the get go - from the exterior to the interior. And the company has finally...
by - June 23, 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