Wednesday, June 2, 2010

Auto Sales Bouncing Off Lows...

The Good (per the AP):

Americans shrugged off fewer discounts and a scary stock market plunge last month, snapping up new automobiles and delivering another month of higher sales for carmakers.

The industry's double-digit jump in sales shows that consumers feel the economy is healthy enough for them to buy a new car or truck. It's easier to get a car loan and gas prices are holding steady. Those factors helped ease any jitters about the 8 percent drop in the stock market last month.

"Clearly we are in a recovery," said Jeff Schuster, executive director of global forecasting for J.D. Power.

The long-term perspective (we are still running ~4-5mm units per year below previous levels):

Source: Auto Blog