Auto Sales Increased 3.4% Highest Total Since 2007
Posted in the Minneapolis Forum
#1 Apr 4, 2013
March Auto Sales Increased 3.4% for Highest Total Since 2007
By BILL VLASIC
Published: April 2, 2013
DETROIT Automakers reported on Tuesday that March sales of new cars and trucks were the highest monthly total in five years, providing more evidence of a sustained turnaround in the industry.
How the Auto Industry Fared in March
According to Autodata, 1.45 million vehicles were sold during the month, a 3.4 percent improvement over last year, as a strengthening housing market and low interest rates spurred consumers and businesses to replace aging models.
It was the best monthly performance since 2007, executives and analysts said, and it reinforced their sales forecasts for the full year at more than 15 million vehicles.
Even though consumer confidence has been up and down this year, there are wealth effects that are making Americans feel comfortable finally buying new cars theyve been waiting for, said Lacey Plache, an economist for the auto research site Edmunds.com .
General Motors, the largest American automaker, said it sold 246,000 new vehicles during March, a 6.4 percent increase over the same period last year.
While sales of its biggest brand, Chevrolet, were flat, G.M. said sales of its Cadillac brand increased almost 50 percent and Buick sales rose 37 percent.
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