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Auto sales maintain momentum, led by pickups

  • In this Wednesday, May 8, 2013 photo, new 2013 Ford Fusions are seen at an automobile dealer in Zelienople, Pa. Sales from the major automakers are expected to show that confident U.S. buyers snapped up new cars and trucks at a strong pace in June. (AP Photo/Keith Srakocic)

DETROIT — Three years ago, U.S. car buyers started trickling back into showrooms after largely sitting out the recession. That trickle has turned into a flood.

From owners of revitalized small businesses that need to replace aging pickups to new hires who need a fresh set of wheels for the daily commute, increasingly confident buyers pushed auto sales back to pre-recession levels in the first six months of this year. Sales in the January-June period topped 7.8 million, their best first half since 2007, according to Autodata Corp. and Ward's AutoInfoBank.

The outlook for the rest of 2013 is just as strong. The factors boosting sales — low interest rates, wider credit availability, rising home construction and hot new vehicles — will be around for a while, and experts are hard-pressed for answers when asked what could slow things down.

"It all points to continuing improvement in the auto market," said Mustafa Mohatarem, General Motors' chief economist.

Analysts expect total sales of around 15.5 million cars and trucks in 2013, which would be 1 million more than in 2012. New cars and trucks sold at an annualized rate of 15.96 million in June, the fastest monthly pace since December 2007. From January to May, the pace averaged 15.2 million, according to Jessica Caldwell, a senior analyst at car buying site Edmunds.com.


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