As the price of gasoline continues to plunge over the past six months, it has drastically changed consumer behavior. With the extra cash after filling up their tanks, consumers may be more open to upgrade their car audio system.
According to the AAA (American Automobile Association), the national average price of gasoline has been $2.13 a gallon for a record 109 days in a row. Six months ago, it was $3.63 a gallon. The Chevy Tahoe will cost $39 less to fill up than it did in July. These lower gas prices helped push sales of Ford F-series trucks to seven-year highs in 2014.
Here are some examples:
- Fuel Tank: 26 gallons
- Fill-up cost 6 months ago: $94.38
- Fill-up cost now: $55.38
- Savings: $39.00
- Fuel Tank: 23 gallons
- Fill-up cost 6 months ago: $83.49
- Fill-up cost now: $48.99
- Savings: $34.50
Falling prices have increased demand for SUVs and trucks. According to the National Auto Dealers Association, in the last three months of 2014, sales of light trucks and SUVs rose 10.9% nationwide compared to the previous quarter. Kelly Blue Book reports that new car sales will total 16.9 million vehicles in 2015, a 2.6% increase and the highest total in a decade. Cheaper gas and an improving economy were big factors in the increase in truck sales. Meanwhile, the demand for hybrid and alternative-fuel vehicles shrank.
Now that consumers have some extra cash, it's the prime time to share Alpine Restyle with them!