CAR SALES: On The Increase
Car dealers across the US hope car sales are an indication of the state of the economy.
Sales of new cars and trucks rose 13 percent this past year, making US auto sales the highest they’ve been in five years.
Car sales can easily drop off in the winter months but one eastern Iowa dealership says sales are still going strong.
Salesman, Jeff Smock, says new car sales at his dealership increased 7 percent last year.
Smock says the boost in sales shows a boost in the economy:
“It’s just phenomenal to see the business doing great again…. I think when you see auto sales increasing it means that consumer confidence has come up quite a bit because other than your home, your automobile is gonna be probably the second biggest ticket item that you’re gonna purchase. That’s just telling me that people are in the mood to buy, they’re feeling confident about their jobs and about their future and about the future of their country.”
Smock says low interest rates have helped fuel car sales over the past year.
If interest rates remain low, he expects sales to remain high in 2013.