Car Sales' New Lease on Life
Turns out leasing customers are loyal customers.
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Car sales are on the rise partly because, ironically, fewer people are buying cars — they're leasing them instead.
U.S. car sales hit an annualized rate of more than 18 million vehicles in September, the highest in more than a decade. Low gas prices and interest rates, a stronger economy, and demand for a generation of more fuel-efficient trucks are all helping sales. Leases are playing a big role, too, notes Bloomberg Intelligence analyst Kevin Tynan.