Automakers report January US sales jumps, led by GM, Toyota

[Omaha Steve]

Source: AP

DETROIT (AP) — Automakers reported double-digit U.S. sales increases in January, a sign that car sales didn't spin out even with a major snowstorm hitting the Northeast.

General Motors led the way with an 18 percent gain over last January. Encouraged by low gas prices, buyers snapped up GM's big SUVs like the Chevrolet Tahoe and GMC Yukon.

Toyota's sales rose 16 percent, and the Japanese automaker reported record January sales of its trucks and SUVs. Ford and Nissan each posted 15 percent gains. Fiat Chrysler's sales rose 14 percent and Honda's sales were up 12 percent.

U.S. sales of new vehicles were expected to be strong in January, continuing the brisk pace of the last half of 2014. Kelley Blue Book predicted overall sales will rise 13 percent to 1.14 million vehicles, making this the best January in nine years.

FULL story at link.



In this Monday, Jan. 12, 2015 photo, Toyota cars for sale are parked at a dealership in Danvers, Mass. Automakers report sales for the month of January, on Tuesday, Feb. 3, 2015. (AP Photo/Elise Amendola)

Read more: http://bigstory.ap.org/article/c9b763a276b841b3b9a739b324066858/fiat-chrysler-january-us-sales-rise-14-percent

[Newest Reality]

1. I wonder how many

of them are being encouraged by the new wave of sub-prime auto loans that are a redux of the mortgage bubble game?

[Omaha Steve]

2. CNN: Subprime auto loans are up. Here's why that's not a crisis

http://money.cnn.com/2015/01/04/autos/subprime-auto-loans-rise/

The number of new auto loans made to borrowers with poor credit rose in September to the highest level since 2007, according to Equifax.

So, is there another subprime financial crisis in the making? Experts say it's not likely.

For one thing, the overall auto loan market is comparatively small -- $900 billion -- compared to $8 trillion of mortgage loans. Subprime currently makes up about 30% of overall car loans.

Cars cost a lot less than homes. And, historically, borrowers tend to make car payments a higher priority than mortgage payments or credit card bills.

FULL story at link.

[Munificence]

3. Even

the title is funny. "....Here's why it's not a crisis"

Nope, not a crisis - but pretty stupid.