Economy, Automaker | featured news

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.

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.

U.S. auto sales remained soft in July and all three Detroit automakers reported sales for the month that fell slightly short of analyst estimates, as high U.S. unemployment and weak consumer confidence kept would-be buyers on the sidelines.

The auto industry looks set to ride the appeal of smaller cars to its best monthly performance since 2008. Chrysler reported a 34 percent increase in March auto sales.

U.S. auto sales rose sharply in November as more confident American consumers spent more on the average showroom purchase, extending a recovery trend for the industry to a sixth month.

American companies sold more computers, heavy machinery and telecommunications equipment in foreign markets in April, pushing exports to a record high. Imports declined, reflecting a big drop in auto imports from Japan caused by supply disruptions from the March earthquake and tsunami.

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