Auto Sales Drove U.S. Economy in 2013 and Look Stronger for New Year

It’s not too much of an exaggeration to say the U.S. economy was powered by car sales in 2012, writes the Washington Post. Auto companies are now expected to have sold 14.5 million new vehicles in 2012, and we'll get the full report today. That’s a 13% rise over last year and the highest number of sales since the financial crisis hit.

Vehicle purchases by consumers alone accounted for roughly 30 percent of all economic growth in the first half of the year, according to Credit Suisse.

Will 2013 also benefit from car sales? Probably.

Polk Research thinks auto sales will rise above 15 million vehicles in the U.S. Edmunds predicts slightly smaller growth, and thinks trucks will be the driver.

Either way, more fodder for our discussions in the GTSOTR podcast.