Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty
 

Auto Sales Powered 2012 Recovery

NEW YORK (UPI) — An economic analysis concluded that growth in the U.S. economy in 2012 was largely driven by automobile sales.

The analysis from Swiss bank Credit Suisse said 30 percent of the growth in the U.S. economy in the first half of 2012 was attributed to automobile sales, The Washington Post reported Wednesday.

Auto sales reached a post-financial crisis peak last year with 14.5 million new cars and light trucks sold, auto tracking firm Kelley Blue Book said.

Oddly, the Post reported, sales kept up a solid pace despite a striking number of recalls, which, at 14.3 million, almost matched sales for the year.

It is generally acknowledge that recalls put a damper on sales, as car problems are not the kind of press the industry prefers.

But Toyota and Honda both increased market share in 2012 with sales of 5 million and 3.4 million, respectively. Those auto makers, however, had the largest number of recalls in the year, said industry analyst Jim Gorzelany.

Backing up those numbers, a study at the North Carolina State University found that the massive recalls instigated by Toyota over the uncontrolled acceleration problems in 2009 did not alter the public’s perception of Toyota vehicle reliability.

Sales also rose due to pent up demand. With the recession pushing people to hold off on buying a new car, by January 2012 the average age of a U.S. car was a record 10.8 years — in theory old enough to force many buyers to visit showrooms.

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.

Facebook Conversations

Join the Discussion:
View Comments to “Auto Sales Powered 2012 Recovery”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at newstips@personalliberty.com

  • http://www.hamachi-servers.de/spam/denied http://www.hamachi-servers.de/spam/denied

    Just wanna remark on handful of general things, The web page layout is fantastic, the subject material is actual superb : D.

Bottom
close[X]

Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to PersonalLiberty.com,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.