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Posts Tagged ‘consumer confidence’

February Auto Sales Match Most Upbeat Estimates

Improving consumer confidence shows up in the showroom.

by on Mar.01, 2012

Chrysler's flagship 300 posts a 480% sales increase for February, the maker up 40% overall.

TheDetroitBureau.com will update the Feb. 2012 sales story as more manufacturers report in.

With Volkswagen posting its best sales in almost 40 years, new car sales continued to gain momentum and to provide a huge lift the US economy during February.

Early forecasts had predicted a strong month and with preliminary results now coming in from VW, Chrysler Group, General Motors and Ford Motor Co. the analysts proved to be, if anything, conservative in their expectations, as all four companies reported substantial sales increases.

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Preliminary indications – with a number of major makers, including Toyota yet to report in – show that smaller passenger cars and crossovers gained significant momentum of their own in February as consumers responded to the threat fuel prices could again run up to record levels this year.

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Consumer Confidence Up, But Oil Prices Slip Back Down – For Now

No $4 gas in sight…not yet, anyway.

by on Aug.25, 2009

Oil prices have been moving up in recent months, but suffered an unexpected setback, Tuesday.

Oil prices have been moving up in recent months, but suffered an unexpected setback, Tuesday.

The good news threatened to turn bad, Tuesday. Driven by improving consumer confidence and a small but measurable improvement in the devastated U.S. housing market, stocks resumed their upward path, with the Dow Jones Industrial average closing the day at 9539.  That was a modest 30-point gain, but marked a 404-point jump over the last six days.

The Conference Board, a widely-quoted research firm, announced Tuesday that consumer attitudes have taken an upturn after two monthly declines. In July, the figure stood at a revised 47.4, surging to 54.1 in August – significantly better than observers had expected and the highest point since May. Whether this means anything as the U.S. economy continues to shed jobs, businesses continue to fire people and government deficits reach the stratosphere remains to be seen.

Let TDB Pump You Up!

Let TDB Pump You Up!

Oil traders were hoping to capture some of that magic, since consumer confidence is one of the strongest indicators of near-term spending. With consumers driving less and factories turning out less, prices collapsed last December, but things may be reversing course. See Ken Zino’s analysis of the oil pricing roller coaster and our failed energy policies by clicking here.

As anyone with a car knows, fuel prices have been steadily increasing this year.  The oil industry has been seeing a number of opportunities over the last few weeks, including increased demand in China, to raise prices. And that has nudged prices steadily higher in recent trading. It’s beginning to look like another price spike could be looming.

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