What's Driving Auto Sales?
The last 24 hours have been favorable for the auto and truck industries. Automotive manufacturers had a robust December as U.S. light-vehicle sales rose 9%. That strong finish meant automakers sold 14.5 million units in 2012, up 13% year over year, the strongest showing since 2007. General Motors (GM), Ford (F), Hyundai, Kia and Nissan (NSANY) lost U.S. market share in 2012, while Toyota (TM), Chrysler, Honda (HMC) and the Volkswagen gained share.
There are several factors driving the rebound in U.S auto demand, including the age of the existing fleet, improved fuel efficiency and the impact of Hurricane Sandy. According to both Experian Automotive and R.L. Polk & Co., the average age of vehicles in the U.S. is roughly 11 years, the oldest ever. The combination of that pain point and signs of an improving domestic economy bode well for the rebound in automotive demand and related companies....210 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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