LATEST NEWS

GM, Ford execs say January US sales strong so far

GM's top exec in North America says US sales remain strong in January

RELATED QUOTES

SymbolPriceChange
GM30.91+0.32
F13.28+0.15

DETROIT (AP) — American consumers are buying cars at a brisk pace in January, continuing sales growth that began late last year, according to two industry executives.

Mark Reuss, General Motors Co.'s North American president, said Tuesday that rising sales seen by GM and the U.S. industry are continuing through the first 10 days of the month.

"I think we're off to a good start. I think the industry is off to a good start," Reuss said at the North American International Auto Show in Detroit.

Erich Merkle, Ford Motor Co.'s top U.S. sales analyst, also said sales are going well so far this month. Neither executive would give specific numbers.

November and December were among the strongest months last year for U.S. car and truck sales. Buyers were drawn by cheap loans and an improving economy. Pent-up demand also was robust last year because many people had to replace aging vehicles. The average age of a car on U.S. roads is approaching 11 years.

GM's U.S. sales rose 13 percent last year, even faster than the industry as a whole, which saw sales climb 10 percent to 12.8 million vehicles. Sales could rise by another million this year, analysts say.

So far, January sales are running at an annual pace of about 13.5 million cars and trucks, says Jesse Toprak, vice president of industry trends for the TrueCar.com auto pricing website.

January normally is one of the lowest sales months of the year as bad weather and overspending during the holidays keep buyers from visiting showrooms. But unemployment, housing starts, the stock market and consumer confidence all are rising, making car buyers more confident, Toprak said.

"They do feel better about buying a car now than they have in the last three years," Toprak said.

He said people are buying small- and midsize cars, as well as midsize crossover SUVs, which are based on car frames. Models selling well include the Toyota RAV-4 and Honda CR-V crossovers. Cars include the Ford Focus, Chevrolet Cruze and Honda Civic, he said.

People who are replacing older models are downsizing, but spending a lot of money on smaller vehicles by equipping them with extra features, he said.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.

DON'T MISS

  • The Rs 80,000 crore milk business is on a tear

    If you thought that all the action in business was concentrated around the e-commerce sector, you could not be more wrong. The unlikely category of milk and dairy products has been seeing some of the most ... …

  • Charged up

    Reliance Jio's battle with other cellular operators over spectrum usage charges is set to escalate. …

  • Cracking the Code

    HackerRank is helping companies recruit coding champions through online tests. …

  • Poor Prediction

    A Niti Aayog presentation says poverty in India could be wiped out by 2032. Is it possible? …

  • Missing in Action

    Villages adopted by Gandhis make little progress. …

  • The VillageEconomy

    Inside: Model villages 68 / How India failed its poor 76 …

  • Hardly Adarsh

    Saansad Adarsh Gram Yojana, PM's pet project, has the potential to kick-start the rural economy, but is going nowhere if we go by the results so far. …

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    47.00-0.15-0.32%
    IDFCBANK.BO
    68.80-3.90-5.36%
    SPICEJET.BO
    10.04-0.02-0.20%
    SUBEX.BO
    146.60-1.45-0.98%
    POWERGRID.BO
    47.10-2.65-5.33%
    RCOM.BO
  • Price % Gainers
    Price % Gainers
    NamePriceChange% Chg
    288.10+48.00+19.99%
    SUNDRMBRAK.BO
    833.10+122.00+17.16%
    NOVARTIND.BO
    194.45+27.30+16.33%
    KELLTONTEC.BO
    16.45+1.95+13.45%
    VMV.BO
    120.80+12.25+11.29%
    REDINGTON.BO
  • Price % Losers
    Price % Losers
    NamePriceChange% Chg
    315.10-78.75-19.99%
    VRLLOG.BO
    69.85-17.45-19.99%
    DION.BO
    100.05-13.55-11.93%
    MSRINDIA.BO
    53.20-6.85-11.41%
    EMKAY.BO
    62.10-7.90-11.29%
    RAJTV.BO
  •  
    Recent Quotes
    Symbol Price Change % ChgChart 
    Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
    You need to enable your browser cookies to view your most recent quotes.
  • Recent Quotes News

    •  
      Sign-in to view quotes in your portfolios.

    Yahoo Cricket