Record highs for stock market indexes also are helping people feel wealthier even if they aren't invested, says Jesse Toprak, analyst for research and buying site, who has tracked the correlation for years.Īnd as people have returned to the auto market, they've chosen well-equipped models. Snowstorms and sequesters are not deterring them a bit,' says Michelle Krebs, auto-market analyst at shopping and research site. 'American consumers appear to be quite confident in the economy. And an improving economy provided some fence-sitters with enough motivation to sign purchase contracts. Income tax refunds averaging $2,827 gave many shoppers the down payments they needed to replace aging cars and trucks that now average 11 years old. 'People are back in the mood to buy a car.' 'The industry is being fueled by cars, credit and confidence,' says Bob Carter, a Toyota senior vice president. General Motors, Ford Motor and Chrysler Group, along with Honda, each outperformed the market. Overall sales of new cars and trucks in March hit nearly 1.5 million, up 3.4% from the year-ago tally, according to Autodata.

A year ago, the annualized rate was 14.1 million. The annualized sales pace was 15.3 million, according to Autodata, a solid - if not spectacular - result fueled by the drawing power of automakers' redesigns coupled with low interest rates.

Detroit automakers ruled the March sales charts, parlaying their truck and SUV expertise into solid gains while Asian rivals - except for Honda - lagged.Īll three Detroit makers gained market share, mainly at the expense of Toyota, Nissan, Hyundai and Kia.

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