The US Auto Industry Is Off To A Good Start: General Motors Company (GM), Ford Motor Company (F)

Hyundai’s sales went up 2.4% over the prior year to a record high of 43,713 units. The automaker is very optimistic about its growth prospect with the launch of new models. Japanese auto manufacturer Nissan recorded a 2% increase in sales by selling 80,919 units. The sales number was mainly driven by the 2013 Pathfinder, which hit the showrooms in November.

The bottom-line
The US auto sector is off to a good start with 1.1 million vehicles sales in the first month, a rise of 15% compared to a year ago figures, according to TrueCar.com. Total vehicles sales were down 22% compared to December 2012, but they are decent enough. Traditionally January is not quite an exciting month for the automakers. Sales are generally down particularly after December’s festive season discounts, year-end clearance offer, and other special offers. Many buyers plan their new cars during December to take advantage of the year-end offers and discounts, making the month of January slow.

Despite the lack of discounts and offer January sales were good, which is positive news for the auto players. Consumer confidence is rising and people are willing to replace their old models with the new offerings. The introduction of new models with attractive features and lower interest rates are attracting more and more buyers.

The article The US Auto Industry Is Off To A Good Start originally appeared on Fool.com and is written by Rajesh Marwah.

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