US car buyers choose size over hybrid as fuel prices fall
Add BT as a preferred source
Detroit
IT is the automotive equivalent of Pavlov's bell: when petrol is expensive, US car owners try to downsize, but once pump prices ring down, they salivate over big pickup trucks and SUVs.
With petrol prices dipping below US$3 a gallon last month for the first time since December 2010, size is back in vogue. "The migration to trucks will turn into a stampede if these gas prices go lower or stay low," Mike Jackson, chief executive of AutoNation Inc, leading US car retailer, told Reuters. "Americans just love big."
TRENDING NOW
Think twice about rebuilding that old landed property into a super-big house to max out GFA
SpaceX’s US$1.75 trillion IPO: How retail investors, including those in Singapore, can buy shares
Private equity giant Carlyle can grow bigger but needs to stay on its toes: co-founder David Rubenstein
Battle for Asia’s ultra-rich: ‘Singapore can’t afford to keep losing clients to Dubai, Hong Kong’
