The major stock averages rallied as automakers posted their strongest month since the government’s cash-for-clunkers incentive program at the height of the financial crisis.
To break down those August sales figures for Detroit’s Big Three General Motors sales rose nearly 15% easily beating expectations.
Ford sales rose more than 12% from the same month last year, its best August in seven years.
Chrysler had its best August in six years, with sales up 11 and a half percent, led by strong demand for its Ram pick up trucks.
Phil LeBeau reports.