Auto Industry, Auto Sales | featured news

... the auto industry is weighing in with what appears to have been a solid February – buoyed by a recovery in another key sector of the economy. “The housing sector has now joined auto sales in propelling the U.S. economy forward,” said Kurt McNeil, vice president of U.S. sales operations for General Motors, which reported a 7% increase, year-over-year.

At Detroit’s annual auto show, the carmaker’s chief executive said he expected the upward sales trend to continue this year, bolstering both Chrysler and its parent, Fiat.

Toyota has once again dethroned General Motors as the world's top-selling automaker. The Japanese company sold 9.7 million cars and trucks worldwide in 2012, although it's still counting. GM sold 9.29 million.

An auto industry research firm says an improving economy and a host of new models should push U.S. auto sales above 15 million this year.

Motor Intelligence estimates a 6.49 million sales pace for domestic trucks in November and a 5.55 million sales pace for domestic autos for a total of 12.04M

Retail sales fell in October for the first time in three months as superstorm Sandy slammed the brakes on automobile purchases, suggesting a loss of momentum in the fourth quarter.

U.S. retail sales rose in September as Americans bought more cars and gasoline, while a gauge of consumer spending pointed to stronger-than-expected economic growth in the third quarter.

General Motors Co, the largest U.S. automaker, reported a 1.5 percent increase in September auto sales on the strength of its passenger car sales, while Ford Motor Co posted sales that were on par with its results from a year earlier.

Retail sales in the U.S. increased in August by the most in six months, boosted by demand for automobiles along with higher gasoline prices that left consumers with less to spend on other goods. The 0.9 percent gain followed a revised 0.6 percent advance in July that was smaller than initially reported, the Commerce Department said today in Washington. The median forecast of 84 economists surveyed by Bloomberg called for an increase of 0.8 percent. Sales slowed at department stores, apparel retailers and electronics outlets.

Strong pickup demand fueled a big jump in U.S. auto sales last month. GM's August U.S. sales rose 10 percent compared with a year earlier, while Ford's rose 13 percent and Chrysler's 14 percent. Most automakers reported strong gains as Americans flowed into dealer showrooms, drawn by model-year closeouts, low-interest financing and appealing new models. Analysts expect overall sales to rise around 20 percent when companies finish reported later Tuesday.