The sales in the US auto sector increased to its highest level in five years during the month of November as sales rebounded following the super storm Sandy.
The increased ahs caused industry officials to be optimistic about the coming year. Sales in November increased 15 per cent to 1.14 million vehicles, which is the highest level since
2007 when the financial crisis hit the American economy and pushed demand down in the sector.
Ford Motor Co, Honda Motor Co and Nissan Motor Co all posted better thane xpeced sales during the month of November. Chrysler Group LLC, Toyota Motor Corp and Hyundai Motor Co also recorded strong sales in the country and there are indications that the increase will continue in the coming months.
On the other hand, the sales at the country's leading automaker, GM was below expectation. The company indicated that it did not benefit from the recovery as much as its other rivals. Experts say that the rising auto sales indicates a recovery in the US economy with rising U. S. consumer demand as well as the housing market.
- Scientists say death of a partner may cause an actual ‘heartbreak’
- Trump Criticizes Ford’s Move of Building a New Assembly Plant in Mexico
- Reportedly Pfizer and Allergan Plan to End Merger Deal with New Stricter Tax Rules
- Dollar Close to Its Seventeen Month Low Against the Yen
- Iceland’s Prime Minister Resigns after Panama Paper Leak