Falling fuel prices and an accelerating economy provided a powerful boost to US car sales in December, helping to make 2014 one of the strongest years on record for an industry that five years ago appeared to be facing collapse.
Sales across the industry jumped a seasonally-adjusted 13 per cent over December 2013, according to preliminary estimates from Chrysler, the US arm of Italy’s Fiat Chrysler Automobiles.
Low interest rates, coupled with news in December that the US economy recorded its fastest growth in a decade at 5 per cent in the third quarter, also made consumers more willing to spend on new cars, analysts said.
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