People are buying motorcycles instead of cars as the price of gasoline surges, according to a report released today.In another gloomy report, the Retail Sales Index shows that retailers continue to have depressing sales figures as spending again slumped in March.The Retail Sales Index showed that all retail sectors experienced year-over- year sales declines with the exception of service stations, which recorded a marginal gain.Gross sales receipts for retailers dipped 5.5 percent to an estimated $83.5 million - $4.8 million below the $88.3 million earned in sales receipts in March 2010.Residents returning from business and vacation trips declared $4.3 million in overseas purchases, a decrease of 6.5 percent compared to the same month of last year. Combined local and overseas spending totalled $87.8 million, 5.5 percent less than in 2010.After adjusting for the annual retail sales rate of inflation, measured at 3.3 per cent in March, the volume of retail sales contracted by 8.6 per cent.BY SECTORMotor Vehicle StoresSales of motor vehicles plummeted 21.3 percent year-over-year. This decline reflected 42 fewer cars sold which offset a 24.6 per cent jump in the sales volume of motorcycles.Retailers attribute this shift in the choice of vehicle purchase to the increase in gasoline prices, which seems to have led consumers to favour purchasing motorcycles over cars.Building MaterialsFewer contract jobs continued to plague retailers of building materials, who reported continued lower sales during the month. The downturn in construction activity has led to softened demand for building supplies, resulting in a 14.8 percent decline in sales from hardware stores.Food and Liquor StoresSales of food fell 3.8 per cent in March 2011, while food prices increased by 1.6 percent yearover-year. Over the same period, liquor sales dipped 4.8 percent.All Other Store TypesGross receipts within the all other store types sector slipped two percent below last year’s level. Sales receipts from boat and marine supplies stores fell 27.7 percent while sales of furniture, appliances and electronics decreased 6.6 per cent.During the same period, sales of pharmaceutical products fell three percent. In contrast, sales of souvenirs, t-shirts & jewellery at tourist-related stores climbed by 53.4 percent during the month, reflecting increased visitor arrivals and sales promotions.Apparel StoresSales by local apparel outlets slipped 0.9 percent during the month. Apparel sales levels have declined year-over-year each March since 2008.Service StationsService stations was the only retail sector to experience positive sales growth during the month, reporting a 1.7 percent increase in sales revenue. This increase was fuelled by a spike in gasoline prices, which surged 11.2 percent above March 2010.Resident Purchases OverseasDuring March 2011, returning residents declared overseas purchases of $4.3 million, a decrease of 6.5 percent below last year’s declarations. This decline was heavily influenced by a 13.4 per cent drop in overseas purchases of apparel and clothing accessories over the same period.