U.S. consumers are opting for foreign cars and trucks instead of domestic brands, according to a study released Tuesday by R.L. Polk & Co. Foreign brands took 52.9 percent of the retail auto market in the first half of 2006, up from a 49 percent market share in 2005, according to Polk.
The data was compiled by collecting new vehicle registrations in the first five months of 2006. The study revealed that there were 2.55 million new domestic vehicles versus the 2.86 million foreign vehicles. Fleet customers and rental car agencies where excluded from thestudy.
This means business for the port of Baltimore, already ranked No. 2 in import and export of automobiles in the country.
“If people are buying more imported cars, that means that more is coming through our port,” said J.B. Hanson, spokesman for the Maryland Port Authority. “More imports means it?s more employment for more people in Baltimore, and it also means it will help stabilize the economy.”
Dealers of domestic products are feeling the hit.
Jim Rouchard, sales manager at Jones Juncture, an auto dealer on Bel Air Road in Baltimore, notes the trend and believes that the desire for foreign cars is relative to the rising gas prices.
“I?m seeing a definite trend away from the full-size pickup and full-size SUV. We?ve got a Yukon with a flex-fuel engine, but there are only a few places to find E85 ethanol around town. Most people are more interested in the smaller hybrids,” Rouchard said.
The Polk study included foreign cars made on U.S. soil in the foreign vehicle data.
Baltimore?s No. 1 automotive import is Mercedes-Benz. The city?s No. 1 auto export is DaimlerChrysler, Hanson said.
