Despite some “challenges in our industry,” automakers hailed the generally strong pace of sales, last month, billing it as a sign that the nation’s economy is firmly on the road to recovery.
But industry analysts will be watching to see if automakers can avoid yet another incentive war, rebates and other givebacks clearly helping prop up the market the last two months.
The seasonally adjusted annual rate, or SAAR, for light vehicle sales actually dropped back just slightly to 11.2 million units during April but carmakers didn’t seem to mind.
There was a general consensus that the economic recovery is genuine and sales will continue to improve. At Toyota, which saw a 24.4% jump in April sales, vice president Bob Carter said the signs clearly indicate that the economy is on the mend and interest among consumers in new vehicles is on upswing.