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Auto Recovery Underpins U.S. Economy

September car sales return to levels seen prior to the 2008 financial crisis.

By Keith Naughton and Craig Trudell, Bloomberg | Updated on October 03, 2012

The housing market is still on shaky ground. Unemployment remains above 8 percent. The one flank of the U.S. economy that’s marching steadily back is the sector that once seemed the weakest: automotive.

The auto industry in September reached an important milestone that few other sectors can claim. Carmakers sold cars and light trucks at an annualized rate of 14.9 million, taking into account seasonal adjustments, according to researcher Autodata Corp. That’s the best pace since March 2008, before the failure of Lehman Brothers Holdings Inc.

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