How About Some Good News?
September 5, 2013 - 4:18 am
And here it is:
The U.S. auto industry has shifted into high gear with new-car buyers snapping up vehicles last month at a pace not seen since before the financial crisis.
Low interest rates and slow-but-steady job growth are encouraging consumers to trade in cars and trucks that average about 11 years old, say auto makers, which are adding production capacity and overnight shifts to satisfy demand.
The age of the fleet is a big driver (ahem) here, after the recession killed new car sales and Cash for Clunkers drove up prices for used cars.