Auto Industry Booming
Link from CNBC. This is good news unless you bet against the Auto Industry and your intitials are MR.
Ford Motor had the best March for new-vehicle sales in the U.S. in five years, and AutoNation raised its forecast for sales for the whole year, in what may be a strong sign of recovery for the auto industry.
Philippe Desmazes | AFP | Getty Images
Ford Americas President Mark Fileds told CNBC on Tuesday that the sales performance was due to pent-up demand, the mild weather and demand for fuel-efficient cars.
AutoNation announced that March retail new vehicle unit sales increased 15 percent compared with the same month of last year and that sales in the first quarter increased 13 percent from the first quarter of 2011.
The results were so good, CEO Mike Jackson told CNBC, that the dealer raised its sales forecast for the whole year.
Its shares rose 2 percent in pre-market trading.