The Car Exam News #39: February Auto Sales at their best in years

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Is the U.S. auto market on a comeback? Automotive News is reporting that February U.S. new auto sales are the best they have been since August of 2008 (government clunker deals not included). Why?



There are apparently a variety of factors at play: credit has become easier for consumers to attain once again, fleet sales are making up less of the market share, consumer confidence grew last month--and household income is growing, auto makers are utilizing online social media and email to sell their cars to consumers, and some auto makers are offering special purchasing incentives to reel buyers into showrooms. However, will steeply-higher gas prices derail the rebound in U.S. auto sales? That remains to be seen--but as the year progresses, the effects (or lack thereof) of high gas prices on U.S. consumers will become clear.

Source: Automotive News (http://www.autonews.com/apps/pbcs.dll/article?AID=/20110307/RETAIL01/303079936/1401)

P. Scott