Side-View Plays off the Auto Boom
As we learned from the January automotive-sales data late last week, which were up 14% vs. the prior year, the strength in this market has continued into 2013. Figures from Autodata put January U.S. auto sales at a seasonally adjusted annual rate of 15.3 million, thus marking their third straight month above the 15-million mark. That means good things for Ford (F), General Motors (GM) and Chrysler, as well as their suppliers.
As I wrote a few weeks ago, the rebound in the domestic automotive market is expected to continue as move further into 2013. Several factors are driving this, including the very old fleet of U.S. cars on the roads, the impact of Superstorm Sandy and far better fuel efficiencies over the last few years. According to automotive-consulting firm Polk, the average car on the road in the U.S. is more than 11 years old. That has arguably led to some pent-up demand over the last few years. ...321 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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