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Michigan Auto makers said today that their U.S. sales grew in January, typically a slower month for the industry, as strong demand trends appear likely to continue into the new year.
At C&R, we think these trends will continue to fuel Michigan’s economy. While economies of oil dependent state’s will slow this year, Michigan will accelerate.
The auto industry is in the midst of a strong run of monthly sales improvements as U.S. consumers, armed with more cash because of lower gasoline prices, are more confident about the economic outlook. Now, the market is looking to see whether the sector can continue its torrid growth this year.
Chrysler, General Motors Co. and Nissan Motor Co. all posted double-digit increases in January.
Much of the continued strength in the industry comes from higher sales of sport-utility vehicles and trucks, which benefit from (more…)