U.S. car sales rebound

From The Los Angeles Times, 11/4/09:
http://www.latimes.com/business/la-fi-auto-sales4-2009nov04,0,6073032.story?track=rss

U.S. car sales are out of rut

After two years of losses, they are unchanged in October from a year
earlier.

After two years of sputtering, U.S. auto sales are finally gaining
some traction.

Sales of cars, pickup trucks and sport utility vehicles were virtually
unchanged in the United States last month compared with October 2008
-- a victory for an industry that has suffered through two years of
devastating losses.

Not counting August's 1% gain, when sales were goosed by the
government's "cash for clunkers" program, it was the only month since
October 2007 that auto sales weren't solidly in the red.

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Sales rebounded smartly from the sharp drop suffered in September
after "cash for clunkers" ended.

Calculated on an annualized basis, October sales ran at a
10.46-million-unit clip.

That's below historic levels, but it's a vast improvement over
September's 9.22-million annualized rate.

"We're seeing the industry get some legs under it," said Mike
DiGiovanni, General Motors Co.'s top sales analyst.

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Auto executives and analysts were hopeful that other positive economic
signs, such as improvements in industrial production and indications
that the housing market may be bottoming, will continue to lure buyers
back into showrooms.

"We're definitely stabilizing and showing growth in a positive
direction, so hopefully 2010 will be a little bit better," said
Jessica Caldwell, senior industry analyst at online auto site
Edmunds.com.

_________________________________________________________

Harry

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Lamont Cranston (04.11.2009 17:10)

lab~rat >:-) (04.11.2009 17:12)