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Consumers Keep on Truckin'

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If you are driving right now, you might be able to spot a Ford F-150 pickup truck. In fact, you may be driving one. Since 1977, Ford has sold enough F-series trucks to circle the earth more than three times. As reported by CNN Money, the F-series has been America’s best-selling truck 40 consecutive years. Ford recently announced that it has sold more than 26 million units since the model line’s introduction. Analysts say that the F-series has become more popular due to cultural factors.

Like blue jeans, pickup trucks have evolved from a vehicle only relevant for certain types of work to becoming a status symbol and lifestyle statement. Today’s pickup trucks often feature leather seats and top-of-the-line electronics. Trucks produced by General Motors are also very popular, but GM markets its trucks under two separate brands, Chevrolet and GMC. Combined, GM’s trucks have actually outsold Ford’s on occasion according to data from Edmunds.com, an automotive website. Some might point out that pickup trucks, while often being stylish, aren’t particularly fuel efficient. But in recent years, Ford has successfully worked to reduce the weight of its F-series trucks and is planning a hybrid version of its F-150.  

Anirban Basu, Chariman Chief Executive Officer of Sage Policy Group (SPG), is one of the Mid-Atlantic region's leading economic consultants. Prior to founding SPG he was Chairman and CEO of Optimal Solutions Group, a company he co-founded and which continues to operate. Anirban has also served as Director of Applied Economics and Senior Economist for RESI, where he used his extensive knowledge of the Mid-Atlantic region to support numerous clients in their strategic decision-making processes. Clients have included the Maryland Department of Transportation, St. Paul Companies, Baltimore Symphony Orchestra Players Committee and the Martin O'Malley mayoral campaign.