July 07, 2011 10:39 ET Says Mid-Size Truck/SUV Demand Rebounds as Gas Prices Fall

Gas Prices Have Fallen 50 Cents Since June 1, Paving Way for New Category Demand

MIAMI, FL--(Marketwire - Jul 7, 2011) -, the most recognized name in car leasing, says demand for mid-size trucks and SUV leases has rebounded in just a short time since gas prices have fallen from their springtime highs around $4 per gallon.

The Energy Department's Energy Information Administration said this week that national gas prices have dropped approximately 46 cents since early May, currently sitting near $3.50 per gallon. Gas prices have been a largely discussed topic since February when they rose sharply, peaking at a national average of $3.97 in early May. Demand for vehicle leases in the mid-size truck and SUV category on has risen an average of 8.3 percent compared with June 1 levels.

"Throughout spring when gas prices rose sharply, the anticipated ascension of fuel-efficient vehicle demand came to fruition," said Sergio Stiberman, CEO and founder of "But interest in mid-size trucks and SUVs was more prevalent than in 2008 because of a stable economy. With gas prices easing off their highs, car lease shoppers have started to inquire about trucks and SUVs, feeling less financial pressure at the pump."

Percentage of category demand increase:

Mid-size Truck/SUV Demand Feb - May Demand Since June 1
Honda CRV -3.6% +10.2%
Ford Edge -2.3% +9.8%
Nissan Pathfinder -4.2% +9.4%
Toyota Highlander -4.6% +8.1%
Mazda CX-9 -3.3% +7.6%
Ford Explorer -2.2% +7.5%
Ford F-150 -1.6% +6.3%
Chevy Silverado -1.7% +5.8%

Source: Marketplace

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