New car buyers, shunned by lenders just four years ago, now are benefiting from historically low interest rates and more-available credit, pacing a U.S. auto market that is hovering near pre-recession levels.
The best year for U.S. auto sales since 2007 hasn’t been enough to boost General Motors Co.’s shares. One reason is dealership lots such as Dave Gill Chevrolet in Columbus, Ohio, that are overstocked with trucks.
General Motors Co. , the largest U.S. automaker, may report $1.74 billion in net income for the three months ended in March as rising sales in the U.S. and China helped the company to its best first quarter since 2000.
The pace of U.S. auto sales probably stalled for a second straight month in June as the labor market stumbled and confidence waned, leading analysts at Citigroup Inc. and Deutsche Bank AG to lower estimates for demand in 2013.
U.S. light-vehicle sales probably rose in December to wrap up a three-year run unrivaled in almost four decades as consumers replaced cars and trucks that are, on average, the oldest ever on the nation’s roads.
U.S. auto sales may have reached a 13 million annual pace for the third straight month, accelerating from a year earlier, as consumer confidence rose before vehicles produced prior to Japan’s earthquake began to run out.
One year after Japan’s tsunami tripped up global auto production, the aberrations in supply that followed are diminishing the reliability of a widely used statistic. Investors need to carefully watch tomorrow’s results.