Vehicle sales in the U.S. have been really driven by pickups and SUVs over the past year. For example, in the first quarter of 2015, General Motors profits rose almost eight times over 2014 due to consumer spending in the category. Even Fiat Chrysler ended 2014 up 24 percent led by Ram pickup sales.
Automakers across the board seem happy that vehicle sales numbers are trending up. While gas prices might have some influence on this trend, you have to imagine that it also has something to do with the products being produced.
Profit margins for specific auto models is a closely guarded secret. While some cars are about more customer loyalty and branding others — like pickup trucks — are their bread and butter. Take a look at this report from Bloomberg’s Matt Miller on why trucks are so important to automakers:
