There are plenty of factors working in the automotive industry’s favor right now. Gasoline is fairly inexpensive, access to credit has eased following the economic bust of 2009 and the economy has picked up in general. That means Americans are falling in love all over again with the big, brutish pickup truck, and small, fuel-efficient cars have been put on the back burner in consumers’ minds.
GMC marketing chief, Tony DiSalle, told WardsAuto the potential growth and untapped potential for pickup and SUV sales is utterly huge, and GM as a whole estimates good things for the segment.
“We have no idea how high” truck demand will go, DiSalle confessed.
Truck sales have previously peaked during boom and bust cycles in the economy, topping out at 40.2-percent marketshare in 2002, and 39.3-percent in 2005. For some perspective, pickups reached 22.6-percent of marketshare at the closing of April 2016. So, yes, potential is still huge.
Furthermore, old trucks are still on the roads, averaging an age of 13-years according to the report. This means GMC sees plenty of consumers it can court to trade up to a shiny, new truck.