Low gasoline prices had an evident impact on U.S. auto sales in 2015
The impact of the low gasoline prices on U.S. auto sales results in 2015 is evident, but the general effect is difficult to be globally categorized as positive or negative.
2015 may turn out to be the best year ever, with U.S. auto sales topping the 17.4 million vehicles that were sold in 2000, and all this is especially due to low gasoline prices.
Dealers and automakers have enjoyed a surge in sales of high-margin pickups and SUVs. Ford Motor Co., General Motors and other automakers are reporting record North American profits for 2015. But the cheap-oil dividend crimps vehicle sales in regions that are heavy in oil and gas production.
For consumers, paying less at the pump has boosted their confidence about splurging on new wheels and loading up on high-trim options. The largest statewide decline of new vehicle registrations in the country was registered in Oklahoma and Texas. Falling energy prices and a halt in drilling of new wells haven't slowed auto sales in Pennsylvania and Colorado. So the impact of the low gasoline prices on auto sales results is evident, but the general effect is difficult to be globally categorized as positive or negative.