U.S. automakers reported strong sales in January, a time of year that’s normally slow for the industry.
General Motors also recorded a 91 percent jump in profit in the fourth quarter. The company says it will issue $9,000 profit-sharing checks to 48,000 of its employees.
The auto industry is in the midst of a rebound after the recession brought many of the large automakers to the brink of collapse several years ago.
CNN business correspondent Maggie Lake tells Here & Now‘s Robin Young that an improving economy and low gas prices have convinced consumers to buy new cars.
Reporter
- Maggie Lake, CNN business correspondent. She tweets @maggielake.
Copyright 2020 NPR. To see more, visit https://www.npr.org. 9(MDA1MjI2NzUxMDEyNzQyMTY5MjQ2YzkwNA004))
Send questions and comments about this story to feedback@stlpublicradio.org.
Support Local Journalism
St. Louis Public Radio is a non-profit, member-supported, public media organization. Help ensure this news service remains strong and accessible to all with your contribution today.