More Americans are buying pickup trucks.
The Wall Street Journal reports pickup sales are up more than 10 percent from last year.
Inside Energy’s Dan Boyce tells us sustained low gas prices help explain that.
Josh Letsis is the General Manager at John Elway Chevrolet in Denver, He’s out in the lot, showing me his top lineup of trucks.
“Yeah, brand new 2015 and we’re…” (fades under)
When gas prices are high, his customers buy a lot of compact cars.
“But now the fuel’s back down, they’re getting back into the pickup trucks and the larger SUVs.”
His pickup sales are 20 percent higher than last year, while the fuel efficient cars like the Chevy Volt?
“It’s very stagnant right now.”
The Federal Energy Information Administration predicts oil prices will stay relatively low through 2016.