Everything is going to be just cupcakes, at least judging by how pickup trucks are selling.
For the first time in a few years, people are returning to showrooms and are picking up pickup trucks. That’s important because although pickup trucks are only 11% of the market, at Ford, they count for nearly 50% of the profits. And it points to small business owners and entrepreneurs deciding to get their businesses going.
As one truck salesman told NPR, “Say a fella realizes his dream in life and he can start a company. Well, all of a sudden, he realizes ‘Well I need a truck maybe to help me out here to haul things around.’”
These aren’t new shoppers, however. These are mainly people who have deferred replacement truck purchases who have decided the economy isn’t getting much worse and they don’t need to hoard cash as much. Economists say it won’t be until the showrooms start seeing new faces that you know the economy is really on the rebound.