Vehicle purchases by consumers alone accounted for 30 percent of all the GDP growth in the U.S. economy the last two quarters. As a matter of fact, cars are driving the recovery. Auto analysts were expecting another record month of car sales in May. TrueCar.com has announced that it was predicting the highest monthly level of vehicle sales since 2007, up 32 percent since this time last year.
The auto sales this year are still expected to be way below the long-term average for the 2000s (million units versus. about 14.5 16.6 million). Unless Americans are planning to give up driveing en masse, that hope for the economy is that there are still a whole lot of vehicles out ther that are rapidely aging and eventually need to be replace.
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