Low Gas Prices Fueling Truck, SUV & RV Sales

17 Jul 2015 1:10 PM | KOA Owners Association (Administrator)

Low Gas Prices Fueling Truck, SUV & RV Sales

July 17, 2015 by RVBusiness 

With the price of gas down nearly a dollar a gallon from this time last year, consumers who are paying less at the pump are opting for bigger, more gas-thirsty vehicles.  The Omaha World-Herald reported that easier lending terms — including loans written for seven years — also are helping sales of new RVs shift into high gear.  Confident consumers are buying or leasing larger pickup trucks and RVs, said Rick Johnson, print editor of Automotive News.  

RV sales are sizzling, and they’re not exactly known to sip fuel, with many motor homes logging 7 to 12 miles per gallon.  Ed Leach, the owner of Leach Camper Sales in Council Bluffs, said he’s expecting the best sales year since 2006.  Baby Boomers are among the biggest buying segment, but younger families are snapping up lower-priced and used RVs, Leach said.

“Yes, gas prices are lower, but people, particularly those close to retirement, are feeling flush,” Leach said. Their 401(k)s, many of which plummeted in value in 2007, have recovered. “All of a sudden their 401(k) is worth a lot of money,” he said, making them feel wealthier. That’s what Leach said is driving his sales.  And though gas prices could go up, potential auto buyers appear to have adopted a devil-may-care attitude — to a point, Johnson said. “Nobody seems to think $3 a gallon is a disincentive.”

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