December Auto Sales Slow But 2013 Notched its Best Finish in Six Years

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December Auto Sales Slow But 2013 Notched its Best Finish in Six Years (AP)

U.S. auto sales slowed a bit in December from the brisk pace earlier this year, but automakers still were on track to end 2013 with the best numbers in six years. Chrysler managed a 6 percent gain for December, but General Motors, Toyota and Ford and Volkswagen each posted disappointing numbers. Even so, major automakers reported at least a 7 percent increase for 2013, and analysts expect full-year sales to be up around 8 percent to 15.6 million when all the numbers counted. That would be the highest sales figure since 16.1 million in 2007. “The auto industry was a consistent bright spot in the economic recovery throughout 2013,” said Bill Fay, Toyota division group vice president. “We expect the economy will continue to gain strength in 2014, with car sales rising to pre-recession levels.” However, analysts said manufacturing discounts rose in December, so investors may want to limit their optimism.

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Paul Dykewicz

Paul Dykewicz is the editor of StockInvestor.com and the editorial director of Eagle Financial Publications in Washington, D.C. He writes and edits for the website, as well as edits investment newsletters, time-sensitive trading alerts and other reports published by Eagle. He also is an accomplished, award-winning journalist who has written for Dow Jones, USA Today and other publications, as well as served as business editor of a daily newspaper in Baltimore. In addition, Paul is the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain." He received his MBA in finance from Johns Hopkins University, where he was a two-time president of the school's Finance Club. In addition, Paul has a bachelor's degree from the University of Michigan and a master's degree in journalism from Michigan State University. Outside of work, Paul volunteers with a faith-based organization to assist the poor in Southeast Washington, D.C., to learn personal finance skills to lift themselves out of debt.