Economy, Car Sales | featured news

US car sales rise 13.4% in 2012, making it the best year for the industry since 2007, industry data shows.

Stocks are shaking off a two-week slump after a report on retail sales wasn't as bad as economists had predicted... The government said Tuesday that retail sales edged down 0.2 percent last month, the first decline in nearly a year. That was slightly better than analysts were expecting. Americans bought fewer cars during the month, but the decline reflected temporary supply chain disruptions caused by the earthquake and tsunami disaster in Japan. Excluding weak car sales, retail sales rose 0.3 percent.

The month of October is just about a wrap, and it’s shaping up to be a good one for the auto industry.

US retail sales rebounded in October as demand for cars continued to climb even after the expiration of government sponsored incentives.