2010, Auto Sales | featured news

General Motors Co posted a 7.5 percent rise in December U.S. auto sales and said it expects the industry to report sales at a 13 million-vehicle annualized rate for last month -- far higher than many forecasts and what would be the highest rate of 2010.

October was a relatively good month for the auto industry, which is trying to build momentum in what has been a slow recovery.

The month of October is just about a wrap, and it’s shaping up to be a good one for the auto industry.

Retail sales are expected to show an increase in August despite weakness in auto sales. Economists surveyed by Thomson Reuters expect retail sales will increase 0.3 percent in August following a 0.4 percent rise in July.

Spending fell 1.2%, the biggest dip in eight months. Auto sales were down 1.7%. Retail sales plunged in May by the largest amount in eight months as consumers slashed spending on everything from cars to clothing.

U.S. auto sales continued to rise in April as the stabilizing economy and attractive discounts brought more consumers into showrooms.