Here at the end of 2014, US buyers are finally feeling comfortable enough with the economy’s apparent boost to spend their hard-earned cash on great vehicles again. They are embracing crossovers and SUVs again as gas prices drop, and are on track to spend $400 billion on new autos this year—a record in the making.
For a while, as things seemed tight and unpredictable, most folks steered toward lower-cost sedans. In October and a few months previous, however, the market watched a serious upsurge in higher-ticket SUVs and crossovers—not seen since a decade ago when sales volumes were at an all time high.
The Future of SUV sales
We are up 80 percent from five years ago, people. Things are looking much brighter than they were there in the depths of the recession. Look for spending to rise even more in 2015, as oil prices are predicted to stay lower than what we have gotten so used to complaining about…and that means people will start shifting toward the vehicles they have really wanted for a few years but were afraid to buy: those more-profitable SUVs and crossovers. Finally people are moving from merely getting what they need to get from point A to point B…and allowing themselves the joy of driving something that will turn a few heads.
As the holiday mood builds momentum, celebrate the season with a hearty thanks for lower totals at the gas tank … and let yourself imagine greater sales as a result in the New Year. While you’re at it, send in your sales and service teams, finance people and anyone else who needs a refresher course for some ATC classes. There is no time like the present to spruce up and get ready for 2015’s increased sales volume!