April 28th, 2014
Americans want larger cars to fit their family, but without all the bulk of an SUV.
Compact SUVs have been a popular purchase in 2014 and that continued to be the case in April. According to a recent report from Kelley Blue Book, a car-buying resource, compact SUV sales are expected to jump this month. The data showed that compact SUV growth will likely hit double digits in April when compared to the year before, despite declining sales for the sector leader, the Ford Escape. However, according to the report, the Nissan Rogue, Subaru Forester and Mazda CX-5 helped make up for the ground lost by the Escape, as each of these vehicles experienced 40 percent growth so far this year compared to the same period last year.
Trucks also seeing gains
The report also revealed that pickup trucks were popular this month. As spring is typically a time when more homes are being built, truck sales usually increase as a result. And Ram is reaping the benefits this time of year.
"Full-size pickup trucks also should reveal healthy growth in April," said Alec Gutierrez, senior analyst for Kelley Blue Book. "Ram pickup sales are leading the segment's growth, but look for GM's trucks to turn around recent sales declines after bumping up their incentives this month. Meanwhile, the F-Series will continue to dominate the segment as Ford prepares to launch the new generation later this year."
Overall sales strong
And while compact SUVs and pickup trucks were rolling off dealer lots in high numbers in April, that's not to say overall sales weren't strong.
A separate report from TrueCar, a vehicle buying source, revealed that new light vehicle sales are expected to reach 1.38 million units in April, up 7.5 percent when compared to April 2013. Those sales translate to a seasonally adjusted annual rate of 16.2 million, up 9.2 percent from a year ago and down 0.5 percent on a month-over-month comparison.
"Automakers were determined to make sure March sales momentum continued in April, putting sales back on track for 2014," said Larry Dominique, executive vice president of TrueCar. "This month, the Asian manufacturers turned up the incentive dial, while the Domestic manufacturers remained more restrained."
As vehicle purchases are strong this time of year, those shopping around for car insurance are encouraged to take advantage of price comparison tools that ensure they find the right coverage at the lowest possible price.