Sales soared by as much as 25 percent at Gordon Stewart’s four Chevrolet stores in 2013, the fourth straight year of rising U.S. auto sales, and he said he’s never had a better lineup from General Motors Co. His best market will come when he no longer has to persuade car buyers to pay up for models such as the shark-nosed Chevy Impala.
A sluggish December failed to derail the U.S. auto industry’s best year since 2007, as sales of Ford Motor Co.’s Fusion surged to a record, Chrysler Group LLC posted its 45th straight month of sales increases and General Motors Co.’s Cadillac cars soared 48 percent.
The 17 percent surge in U.S. auto sales last month pushed the annual rate to a pre-recession, boom-time level. Even more significant, Detroit automakers are reaping profits not seen since the turn of the century.
General Motors Co. and Ford Motor Co. posted surprising U.S. sales declines, slowing industrywide growth in July, as Japanese automakers continued their recovery and Chrysler Group LLC extended its run of monthly gains.
The recovery in U.S. automobile sales from the lowest in almost three decades may spur a wave of auto- parts acquisitions, drawing interest from hedge funds, private- equity investors and rival manufacturers after a two-year slump in deals.