Another Kind of Green: Profits from SUV Sales Soar
Auto sales are roaring back — and so is America’s hunger for trucks.
In an embarrassing trend for President Obama and his media chorus, the rebound of the U.S. car market in November is coupled with a rebound in truck sales, even as Washington elites are trying to mandate smaller cars and persuade the American public that “Americans want small cars.”
The evidence indicates exactly the opposite. With low fuel prices and money in their pockets, consumers are returning to trucks — which now total 53.5 percent of the market, compared with 46.5 percent for cars. Light-truck market share is up 6 percent over 2009 year-end totals, while the sales of hybrid cars have declined from 2.8 to 2.4 percent of the market — even as the Obamedia have plastered the press with declarations that our brave new hybrid world is here.
The trend couldn’t be better timed for GM and Chrysler, who are riding the trucks’ huge profit margins as they climb the post-bankruptcy mountain to profitability (and taxpayer independence).