Auto industry proving to be the little engine that could
By Paul A. Eisenstein, NBC News contributor
The subject will be politics but the economy will be one of the dominant factors playing out as Democrats begin their convention today. And with a desperate need to put a positive spin on what is, at best, a struggling economy expect to see the spotlight focus on the auto industry.
At a time when housing starts are sputtering and there are few other solid signs of a recovering economy the U.S. auto industry has become the little engine that could.
Once all the makers weigh in with their August numbers by day’s end sales for the month will likely show about a 16 percent year-over-year gain. And while the market, at best, is expected to total 14.5 million this year, well off from its 17-million peak, “There’s not much else we can point to these days that’s anywhere near as buoyant,” said analyst Joe Phillippi, of AutoTrends Consulting.
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