May 19 (Bloomberg) -- Soaring gasoline prices are coming between Texans and their trucks. Trucks and sport-utility vehicles account for three of every four trade-ins at Gillman Honda and Gillman Mitsubishi in San Antonio, said Mike Basham, a used-car manager. Customers want fuel-efficient cars instead, he said. ``It's staggering the impact this is having,'' Basham said. ``I'm not seeing any cars in trade.''
Many residents are buying economy cars, including gasoline- electric hybrids, as gasoline approaches the record reached last year after Hurricane Katrina. The shift in Texas, where pickup- truck ownership is the highest among the eight largest U.S. states, may hurt the country's automakers as well as dealers. ``If you look at trends with trucks, Texas sets the tone,'' said Craig Eppling, a Dallas-based spokesman for General Motors Corp., the largest U.S. automaker. \
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The price of fuel is cutting into demand, said Jerry Reynolds, a former owner of Prestige Ford in Garland, Texas. ``It's on everybody's mind,'' he said in an interview on May 11, four days before selling his stake in the dealership. Prestige was once the largest U.S. retailer of F-150 pickups. Gasoline at U.S. pumps has jumped 32 percent since Feb. 20 to an average of $2.947 a gallon in the week ended May 15, the U.S. Energy Department says. The record was $3.069, set in September after Katrina flooded Gulf Coast refineries.
In the five months after Katrina struck, full-sized SUVs sat on Texas lots for an average of 132 to 147 days before they sold, according to the Power Information Network of researcher J.D. Power & Associates. The average climbed from 89 days early last year. For all vehicles, the average has fallen to about 60 days from 70 early in the year. GM's Chevrolet, Ford and Chrysler's Dodge had declines of 6.5 percent to 13 percent in Texas truck sales last year, R.L. Polk & Co. data show. Across all nameplates, sales fell 4.3 percent even as total new-vehicle sales rose 1.5 percent.
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