While this might sound like manufacturers are reducing the fuel economy of their new cars, this statistic is simply a reflection of the increase in sales of larger SUVs and trucks.
While this past quarter has shown some volatility in the price of crude oil, the overall trend is pointing to an overall reduction in cost. A barrel of crude is nearly half of what it was a year ago at this time, making the sale of larger vehicles more appealing. According to AAA data, the national average for a gallon of gas is $2.047, almost a dollar lower than a gallon last year.
Is it time to get that SUV or new pickup? Some would think so! Sale of pickups was up 2.9% from November a year a ago while SUVs were up 2.4%. While those may seem like small numbers, to put them in perspective, it could mean several thousand more vehicles being sold per month.
Are gas wars on? Maybe! Just a week ago, a small Texas town led the nation in the cheapest fuel with a gallon of gas being sold for just $1.29. San Antonio was not quite as low, but was still selling gas at under the national average at $1.83 per gallon.
Sources: Automotive News and Edmunds.com