Small Business Owners, Contractors Buying Again
Pick-up trucks have been gradually increasing sales as the economy has improved over the last three years. At the heart of the latest surge in truck sales is higher demand from small business owners and contractors who are replacing older trucks in their fleets.
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"That portion of the business for us was up 21 percent, so we're definitely seeing growth month-to-month in that space. That's good and healthy for our industry and the economy," said McNeil.
Through March, pick-up sales jumped 9 percent while passenger car sales dropped 1.3 percent.
So why are contractors and small business owners replacing trucks now? Some of it is due to the housing market rebounding and contractors having the money to buy a new pick-up.
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At the same time, the latest generation of pick-ups are more fuel-efficient so small business owners will spend less on gas.
—By CNBC's Phil LeBeau; Follow him on Twitter @LeBeauCarNews
Questions? Comments? BehindTheWheel@cnbc.com
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