Truck sales seen booming in 2013 as housing market rallies
Pickup truck sales are expected to outpace the broader U.S. auto market this year helped by a recovering housing market and a slew of new models from the three big U.S. automakers, executives and analysts said on Sunday.
Revamped models from General Motors Co, Ford Motor Co and Chrysler Group LLC will be on view this week at the Detroit auto show.
Ford and GM are fierce competitors in the full-size pickup segment where profit margins are larger compared to cars. Pickup trucks made up about 11 percent of the U.S. market last year, well below the historical average of 17 percent.
"The pickup truck sector is poised to outperform the rest of the market this year," said Citi analyst Itay Michaeli at a conference of the Society of Automotive Analysts. Read the full story at www.reuters.com.