Car Sales Sped Up in March

[TomCADem]

Source: Wall Street Journal

U.S. auto sales surged 24% in March to more than one million cars and light trucks, helped by a strengthening economy and hefty buyer incentives from most car makers.

One of the biggest winners was Toyota Motor Corp., which offered 0% financing and other enticements in hopes of luring back customers after quality and recall troubles stunted sales in February. In March, the Japanese company saw sales rise 41%, and it just missed taking the title as the top-selling car maker for the month from General Motors Co.

Overall, March sales rose to 1.07 million cars and light trucks, according to Autodata Corp., That's up from 857,735 in March 2009, when vehicle sales plunged as the recession deepened and bankruptcy filings loomed for GM and Chrysler Group LLC.

Last month was only the third time since August 2008 that U.S. light-vehicle sales topped the one-million mark. Autodata said the annualized sales pace, a closely watched indicator, was 11.8 million vehicles, below analysts' estimates from earlier in the month and far off the 16 million or more typically seen before the economic downturn. Still, the rate was the highest since the government's "cash-for-clunkers" rebate program pumped up the selling pace last August to 14 million vehicles.


Read more: http://online.wsj.com/article/SB10001424052702303960604575157712454498480.html?mod=WSJ_Autos_AutoIndustry3

---

Can you imagine if President Obama had simply let the GM and Chrystler go out of business as some Republicans and many Tea Partiers advocated? How many jobs would have been lost not only from these two companies, but from the various auto components makers who provide parts for these companies?