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News Summary: US auto sales up 22 pct in June

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News Summary: US auto sales up 22 pct in June
Submitted by Fox First at Ten on July 3rd

By The Associated Press
JUNE SURPRISE: U.S. auto sales jumped 22 percent in June to nearly 1.3 million. Analysts thought slower hiring might hurt sales. But falling gas prices, new vehicles and low interest rates convinced many to buy.
BIG WINNERS: All major automakers saw gains over June of 2012. Toyota's sales rose 60 percent while Honda's climbed 49 percent. Both companies had little inventory at U.S. dealerships last year because of the earthquake. Volkswagen's sales rose 34 percent.
WHAT'S NEXT: Analysts say sales could soften a bit this summer, but the industry is still on track to have its best year since 2007.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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