Lower prices at the pumps are good news for local card dealers.
“Our largest mover is the F-150,” said Rober Elrick at Barrie Ford.
A record 1.8 million vehicles were sold last year in Canada. Overall truck sales are up more than 5 per cent and dealers say the top of the priority list for truck buyers is fuel efficiency.
“It’s still a conscious effort to understand fuel economy in all aspects of all manufactures,’ said Elrick. “The F-150 is moving on so well we’re nearly sold out on our inventory,” he said.
Automotive expert Dennis Derosiers says fuel prices dictate the type of vehicle purchased.
“It’s reflected in what consumers are buying both negatively and positively,” said Derosiers. “Starting last fall Canadian consumers immediately started to buy more intermediate and full size and bigger luxury SUV’s – some at the extent of smaller fuel efficient vehicles,” he said.
According to Desrosiers, every 10 cent drop in gas prices puts $5 billion into consumers’ pockets.
“We suspect that this $15 billion that Canadian drivers have already picked up is going to spur them to go out and buy some of this new product,” said Derosiers.
Over all vehicle sales in Canada increased by 6.1% in 2014.
