It was a good year for the American automobile industry in 2012. Its best performance in five years. Automakers released their final figures for 2012, which totaled 14.5 million. A 13 percent increase over 2011.
One of the contributing factors was the federal government’s $62 billion auto-industry bailout which created incentives to buy new cars and trucks in 2012.
Other contributing factors included: the rise home sales and prices, a decrease in unemployment, and aging vehicles (the average age of a vehicle was greater than 11 years in the U.S.). The best part of 2012 came at the end, when special deals on pickup trucks and non-stop holiday ads helped December sales jump 9 percent to more than 1.3 million, according to Autodata Corp. That translates to an annual rate of 15.4 million, making December the strongest month of the year.
Madison Capital had a very good year for vehicle financing and we are hopeful 2013 will be even better. Many industry experts think it will. If you need assistance with vehicle financing please let us know.