The U.S. auto market is poised for a fifth straight year of growth for just the second time since World War II. The recovery from the recession has been so robust that the debate is now whether sales will reach 2000’s record levels -- and whether that would even be a good thing.
For the first time in two decades, General Motors Co., Ford Motor Co. and Chrysler Group LLC pulled off a sweep in the first three months of a year, with all three gaining U.S. market share in 2013’s first quarter.
Car sales that are running at the fastest pace in four years are poised to reverberate through the world’s largest economy as a spillover into production, profits and jobs for Americans may be starting.
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.
U.S. automobile sales this year may rise faster than analysts had earlier anticipated as the improving job market prevents higher gasoline prices and supply disruptions in Japan from derailing the industry’s recovery.
Federal Reserve Chairman Ben Bernanke said he is letting up on the monetary gas pedal. That hasn’t done much yet to affect U.S. auto sales that may have accelerated in June to the fastest pace in 66 months.
The Obama administration’s decision to sell more of its stake in General Motors Co. underscores the resurgence of a domestic auto industry that emerged from near- collapse to become a pillar of economic growth.