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.
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.
General Motors Co. aims to raise as much as $10.6 billion in an initial public offering that will reduce the U.S. and Canadian governments’ stakes in the largest U.S. carmaker, two people familiar with the plan said yesterday.
U.S. auto sales probably rebounded in June after a slowdown in May, a recovery limited by shortages of vehicles from Toyota Motor Corp. and Honda Motor Co. that led some would-be consumers to put off buying.