U.S. Auto Sales Seen Continuing To Rebound In 2012

[Judi Lynn]

U.S. Auto Sales Seen Continuing To Rebound In 2012
by The Associated Press

January 2, 2012 After hitting a 30-year low in 2009, U.S. auto sales are poised for a second straight year of growth in 2012 — the result of easier credit, low interest rates and pent-up demand for cars and trucks created by the Great Recession.

The sales forecast bodes well for the industry's continued recovery and for the broader American economy.

Just two years ago, Detroit automakers were in peril. Car sales plunged as unemployment soared, and loans became harder to get. Chrysler and General Motors filed for bankruptcy protection. Ford avoided bankruptcy only by borrowing billions.

Now credit is easier to get, interest rates are still low and Americans need to replace old cars and trucks they kept during and after the downturn. Millions of drivers in their teens and 20s are expected to buy vehicles, too. That could mean more jobs, more factory shifts and overall growth.

More:
http://www.npr.org/2012/01/02/144585273/u-s-auto-sales-seen-continuing-to-rebound-in-2012

[onehandle]

1. Bought my first GM car since the 80s this year. I slapped a '2012' Obama sticker on it. nt

[Born Free]

2. We bought a 2011 Chevy Cruze for my wife.

We purchased a 2011 Cruze on October 1 of last year, the day before we attended the One Nation rally in Washington DC (October 2), easy to remember those dates. I was pleasantly surprised to see how well Chevy Cruze sales did, and that GM considered it a "money maker". Cruze was number one in it's class for a few months, something I would like to see the American made products do more often. Recently when sales dropped off, GM reduced production but kept the prices the same, which is bad for buyers looking for big discounts, but better for current Cruze owners as the resale value stays higher. GM is predicting the Cruze sales will pick up as the weather improves.

[JoePhilly]

3. More bad news for the GOP!!

[askeptic]

4. I'd be willing to wager that this is wrong.

Wages eroding and continued export of our jobs along with a debt-driven recession/depression is hardly the environment to be expecting higher sales of cars. We'll see...

[Arctic Dave]

5. Talked my wife into buying a Buick lacrosse.

No more Audis for her.