The housing market is still on shaky ground. Unemployment remains above 8 percent. The one flank of the U.S. economy that's marching steadily back is the sector that once seemed the weakest: automotive.
The auto industry in September reached an important milestone that few other sectors can claim. Carmakers sold cars and light trucks at an annualized rate of 14.9 million, taking into account seasonal adjustments, according to researcher Autodata Corp. That's the best pace since March 2008, before the failure of Lehman Brothers Holdings Inc.
Consumers weary of driving 11-year-old vehicles with poor mileage are increasingly trading in their jalopies for new, fuel-efficient models. Small car sales climbed 50 percent last month as gasoline prices held above $3.75 a gallon. Even pickup sales, linked to the nascent housing industry, are up this year.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
