John Casesa, senior managing director at Guggenheim Partners, says July auto sales continued to perform at a healthy clip thanks to cheap financing, the result of low interest rates. Casesa says the final Fiat shareholder vote sealing the merger with Chrysler was “symbolic” with a lot of production capacity still in Italy and the Italian government still subsidizing the combined Fiat Chrysler Automobiles. He says moderate employment and income growth means sales will stay in the current range for “quite some time”. Casesa speaks with Bloomberg’s Kathleen Hays and Vonnie Quinn on Bloomberg Radio’s "The Hays Advantage." They are joined in the conversation by Patrick O’Keefe, director of economic research at CohnReznick.
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