Carmakers reported surprisingly strong U.S. light-vehicle sales in May
with a seasonally adjusted annualized rate of 17.71 million units, the
highest since 2005. Aided by five weekends, including the usual Memorial
Day blowouts, daily sales of 62,558 units were 5.5% higher than the
same month last year.
Besides great weather for car shopping, manufacturers have benefited
lately from stronger employment, low gasoline prices and increasing
credit availability.
But you wouldn't know it to look at their stock prices. (more)
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