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.
Tesla Motors Inc. rose for a fourth straight day, its longest streak since February, as the maker of electric cars prepares to begin delivering Model S sedans and Goldman Sachs Group Inc. raised its price target for the shares.
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.
Car shoppers have long known that they can often buy at lower prices at the end of the month as dealers slash prices to meet sales quotas. Their chances for such deals have been especially strong as 2012 wears on.
Honda Motor Co. said its U.S. sales are growing in October, defying analysts’ projections. That may drive industrywide deliveries to exceed the average outlook, already anticipated as the best in eight months.
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.