The Wall Street Journal is reporting that a new-home construction recently reached its highest level over the last four years, news that could have positive results for a number of industries, including automakers, which have started to experience an increase in pickup truck sales.
One landscaping business owner tells The Wall Street Journal that “there is a lot more steady and consistent work. I was more comfortable with buying a new truck at this point in time because of the market change.”
Sales of domestic full-sized pickup have increased 13 percent during the first half of 2012, the report says. The Detroit Three may experience even better sales during the second half of the year if home construction continues its upward trend – something automakers have likely been waiting to see for a while.
New and refreshed products are also expected to boost truck sales in the near future. GM, for example, is in the final testing phase of the next-generation 2014 Chevy Silverado and GMC Sierra full-size pickup trucks. The new GM trucks may benefit from a new small-block, direct-injection V-8 engine and a tweaked 6.6-liter Duramax diesel V-8. Also in the pipeline is the 2014 Chevy Colorado compact truck, which is already on sale in other markets and set to arrive in the U.S. sometime next year.
Other truck options in the near future for business owners with aging fleets will include the updated 2013 Ram 1500 with a Pentastar V-6 and eight-speed auto, and rumors have surfaced regarding a Ram unibody pickup. The next-gen F-Series, set to debut in 2014, is reportedly going on a diet and will make use of lightweight materials such as aluminum. Japanese automakers are also slated to release new full-size trucks. Nissan, for example, is basing the next-generation Titan off the same chassis as the new NV2500 and 3500 commercial vans.
What do you think: Will pickup sales increase if the housing market recovery continues?
Source: The Wall Street Journal (Subscription required)