Wed, Aug 20, 2014, 1:54 PM EDT - U.S. Markets close in 2 hrs 6 mins

Recent

% | $
Quotes you view appear here for quick access.

AMCOL International Corporation Message Board

  • steve_382 steve_382 May 5, 2013 11:06 AM Flag

    Vehicle sales improved in April

    Just thought I would start a new topic as the previous was getting a little long.

    U.S. pickup truck sales boomed in April, contributing to double-digit sales gains at Detroit auto makers as improving home construction spurred new-vehicle purchases by contractors and tradesmen.

    Chrysler Group LLC said Wednesday that sales of its Ram pickups rose 49% in April from a year earlier, while Ford Motor Co. F +3.13%said its F-series truck sales jumped 24%. At General Motors Co., GM +3.02%combined sales of its Silverado and GMC Sierra climbed 23%.

    Overall, industry sales for April rose 8.5% from a year earlier to 1.285 million cars and light trucks, according to researcher Autodata Corp.

    Most people buy a car with the goal of getting as much out of it as possible before trading it in. MarketWatch's Jim Jelter discusses five cars Americans are most likely to trade in sooner than planned. (Photo: Getty Images)

    For the Detroit auto makers, a resurgence in demand for trucks especially among contractors in the home building industry has been long-awaited. Full-size pickups are big moneymakers for the companies, producing margins that can be as much as 10 times that of a sedan, some analysts estimate.

    Rich Savino, the owner of All American Ford in Old Bridge Township, N.J., said his dealership's F-series truck sales are up a "spectacular" 74% this year through April, with tradesmen replacing old trucks as new home developments pop up.

    "I am getting the contractors coming in and expanding their fleets," said Mr. Savino. "This is the start of it. When the trades and contractors are coming in and complaining they can't hire enough people—that kind of stuff to me is a better indicator of the direction we are going" than other economic indicators.

 

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.