U.S. pickup sales boosted by rising farm incomes

Article by Christian Andrei, 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

Login or Create new account to add a comment!

Recommended

In Japan, Toyota stays in the limelight by always cooking up something new for its famous 86 sports car. A colour orange Toyota 86 performance edition is one that’s hard...
by - December 4, 2016
Back in 2009, Nissan first introduced the Nissan Leaf, the company’s first all-electric vehicle. LEAF stands for Leading Environmentally-friendly Affordable Family car and this particular EV has been considered as...
by - December 3, 2016
In the minivan segment, the 2017 Chrysler Pacifica is already impressive in terms of fuel economy figures – as rated by the United States Environmental Protection Agency. In fact, the...
by - December 2, 2016
Having a blacked-out Bentley Mulsanne Speed is already menacing by itself but by naming it as the Bamford X, it became all the more imposing. This model was made by...
by - December 2, 2016
We have good news for those who are waiting for the latest version of the Mazda CX-5 compact crossover. It was just unveiled in November at the 2016 Los Angeles...
by - December 2, 2016
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