{"id":39732,"date":"2013-07-05T10:23:09","date_gmt":"2013-07-05T14:23:09","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=39732"},"modified":"2013-07-05T10:23:09","modified_gmt":"2013-07-05T14:23:09","slug":"auto-sales-continue-to-surge-to-pre-recession-highs","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2013\/07\/05\/auto-sales-continue-to-surge-to-pre-recession-highs\/","title":{"rendered":"Auto Sales Continue to Surge to Pre-Recession Highs"},"content":{"rendered":"

By WallStreetDaily.com<\/u><\/a> <\/p>\n

\n
Auto Sales Continue to Surge to Pre-Recession Highs<\/div>\n<\/div>\n

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\nChief Investment Strategist, Louis Basenese, said recently that \u201csmall business owners account for a large portion of pickup sales, particularly\u00a0Ford<\/b>\u00a0(F<\/a>) F-Series trucks. That means, by gauging sales of F-Series trucks, we can track the health of the economy.\u201d<\/p>\n

Well, the economy must be doing just fine\u2026<\/p>\n

\u201cFord sold a total of 72,000 trucks in May, which brings the year-to-date total up to almost 300,000. That\u2019s a 21.5% increase over last year \u2013 and the highest total since the recession hit,\u201d says Louis.<\/p>\n

Indeed, auto sales continue to increase across the board\u2026<\/p>\n

Both Ford and General Motors<\/b> (GM<\/a>) posted stronger-than-expected sales in June. GM’s sales were at their highest level for June since 2008. Ford had its best June since 2006.<\/p>\n

And although Chrysler’s sales were in line with forecasts, the company still posted its best June total since 2007.<\/p>\n

The reason for the latest surge?<\/p>\n

So many people held onto their rusted-out jalopies during the recession that they just can\u2019t wait to get a shiny new car any longer\u2026<\/p>\n

According to Edmunds.com’s Senior Analyst, Jessica Caldwell, “Cars out there on the road are very old, and we are seeing record levels of vehicle ages that are being traded in to buy new cars. So I think a lot of people can’t wait.”<\/p>\n

To top it off, even though rates are increasing, car companies want to keep consumers coming in. So they\u2019re keeping rates low\u2026<\/p>\n

“A lot of the rates are subsidized by the auto companies themselves,\u201d says Caldwell. \u201cSo even though the interest rates are getting higher, auto companies still want to advertise those low interest rates because that is what is driving them. A lot of people buy on monthly payments, so if you have a low interest rate, monthly payments become a lot friendlier.”<\/p>\n

 <\/p>\n

The post Auto Sales Continue to Surge to Pre-Recession Highs<\/a> appeared first on  | Wall Street Daily<\/a>.<\/p>\n

Article By WallStreetDaily.com<\/u><\/a><\/p>\n

Original Article: Auto Sales Continue to Surge to Pre-Recession Highs<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By WallStreetDaily.com Auto Sales Continue to Surge to Pre-Recession Highs wistiaEmbed = Wistia.embed(“o3sx8pr3ew”, { version: “v1”, videoWidth: 525, videoHeight: 295, volumeControl: true, endVideoBehavior: “reset”, plugin: { “socialbar-v1”: { buttons: “email-twitter-reddit-stumbleUpon-facebook”, logo: true, badgeUrl: “http:\/\/www.wallstreetdaily.com\/wall-street-research\/”, badgeImage: “http:\/\/embed.wistia.com\/deliveries\/ae6edb685caefd59e311e37ae8ffafad7a41152d.jpg?image_crop_resized=100×20” } } });   Chief Investment Strategist, Louis Basenese, said recently that \u201csmall business owners account for a large … <\/p>\n

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