As ironic as it may sound, the rising price of gasoline may be helping the auto industries by directing the consumers to get new fuel-efficient vehicles.
The price of unleaded regular exceeding $4 a gallon in majority parts of the country, but the U.S. automakers are already proclaiming this year as best year, looking to top 15 million units. One of the reasons is that car buyers are opting for more fuel-efficient passenger cars and smallest SUVs.
“Increasing gas prices are spurring consumers to buy vehicles as they want vehicles that get better fuel economy,” said Marks Fields, Ford Motor Company Americas President, while speaking to the Detroit News.
Fields also commented that shifts at assembly plants in Chicago and Michigan to keep up with expected demand for new set of vehicles like the 2013 Lincoln MKZ making its debut at the New York Auto Show.
As per the industry numbers, the Ford sold 223,418 vehicles in March proving its 5 percent improvements for its best in U.S market. The General Motors and Chrysler increased their sales in March by 12 percent and 34 percent, respectively.
“Three years ago, about 16 percent of the vehicles of General Motors achieved at least 30 mpg on the highway. By this day, the number is about 40 percent. We have more new fuel-economy leaders on the way including the Chevrolet Spark, Cadillac ATS and Buick Encore,” said Mark Ruess, General Motors North America President, in a statement.
The improvement in mileage standards has increased sales of General Motors, Ford and Chrysler by four percent, the sales reports concludes.
In 2011, the General Motors said that 40 percent of its latest vehicles had four cylinder engines and it plans to double the number of vehicles with turbocharged engines from four to eight in the year of 2013.
See Now: OnePlus 6: How Different Will It Be From OnePlus 5?
