Detroit reporting out some good news for 2014 just completed. Story at The Detroit News.
Automakers sold nearly 1 million more vehicles in the U.S. in 2014 than they did in 2013, according to numbers released Monday afternoon by Autodata.
Car and light truck sales totaled 16.52 million vehicles — the first time the industry has crossed the 16-million-vehicle threshold since 2006.
The year ended on a high note as December sales rose nearly 11 percent.
Detroit's Big Three automakers all reported December sales gains Monday, as the industry drove toward its best sales year since before the Great Recession.These sales numbers are finally getting back to "boom-time" 2006 levels here 8 years later.
4 comments:
This is odd...Warren is reporting the exact opposite here: http://moslereconomics.com/2015/01/05/22041/
Last I heard, sub-prime loans were playing a major role in auto sales for the last couple of years.
the market for subprime borrowing is again becoming frothy, this time in the car business instead of housing. U.S. auto sales, on pace for the best year since 2007, are increasingly being fueled by borrowers with spotty credit. They accounted for more than 27 percent of loans for new vehicles in the first half of 2013.
http://www.businessweek.com/articles/2013-11-27/subprime-loans-are-boosting-car-sales
More scamming with the private debt.
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