Pent-up demand drives US car sales

[jpak]

http://www.ft.com/intl/cms/s/0/6fa9ea0a-7daa-11e1-9adc-00144feab49a.html#axzz1r0cgkvZI

The US motor industry recorded its best monthly sales for nearly five years in March on the strength of a brightening economy and pent-up demand.

Carmakers said that consumers, after postponing purchases during the financial crisis, were using higher petrol prices as an excuse to trade in their old vehicles for more fuel-efficient models.

General Motors, America’s top-selling carmaker, said its March sales were 12 per cent higher than a year ago. Industry sales of cars and light trucks are running at an annualised rate of about 14.5m.

“March is on track to be the industry’s best-volume month since August 2007,” said Don Johnson, GM’s head of US sales. He said GM expected total US industry sales to exceed 14m this year.

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[taught_me_patience]

1. How can this be?

According to many DUers, there is no recovery, we're still in a depression, there is no middle class anymore, yada yada yada...

[obxhead]

3. Our auto fleet is older than it has ever been.

Some are being forced into a purchase.

I know many people driving 15 to 20 year old cars they would have loved to replace years ago. Most will continue to wait.

[JNelson6563]

2. Such great news!

For all of us!

Julie