Still most pop­u­lar are Ford pick­ups

Auto sales

Austin American-Statesman - - BUSINESS - B Con­tact Barry Har­rell at 9122960.

months of this year. Part of the Novem­ber in­crease was due to con­sumers re­plac­ing ag­ing cars or ve­hi­cles dam­aged by Hur­ri­cane Sandy, in­dus­try ex­perts said.

For con­sumers in Austin, Ford pick­ups con­tin­ued to be the most pop­u­lar ve­hi­cle in Novem­ber, with 878 sold, ac­cord­ing to the Free­man Auto Report.

That com­pares with 1,154 Ford pick­ups sold in Oc­to­ber, 917 sold in Septem­ber and 861 in Au­gust, ac­cord­ing to the report.

Fol­low­ing Ford pick­ups in pop­u­lar­ity were: Chevro­let pas­sen­ger cars, with 668 sold in Novem­ber; Honda cars, with 622 sold; Toy­ota cars, with 582 sold; and Chevro­let trucks, with 495 sold. of 2012, com­pared with 17.7 per­cent in the same three months a year ago.

The meet­ing of eu­ro­zone fi­nance min­is­ters came just hours af­ter an all-night fi­nance min­is­ters from all 27 coun­tries in the Euro­pean Union, which in­cludes non-euro coun­tries such as Bri­tain and Poland, ended.

They agreed to cre­ate a sin­gle su­per­vi­sor for banks, a key com­po­nent of what many hope will even­tu­ally be­come a ful­lyfledged bank­ing union — a sin­gle rule­book for all banks and co­or­di­nated plans for help­ing lenders in trou­ble.

“Piece by piece, brick by brick, the bank­ing union will be built on this first fun­da­men­tal step to­day,” said Michel Barnier, the EU Com­mis­sioner re­spon­si­ble for the mon­i­tor­ing of fi­nan­cial mar­kets.

The agree­ment, which still has to be ap­proved by the Euro­pean Par­lia­ment, will make the Euro­pean Cen­tral Bank the su­per­vi­sor for banks in the eu­ro­zone and any other coun­try in the EU that wants to opt in.

Bri­tain, for one, has said it has no in­ten­tion of join­ing for fear of los­ing its abil­ity to con­trol what is Europe’s big­gest bank­ing sec­tor.

Only banks with as­sets over $39 bil­lion or those that rep­re­sent 20 per­cent of their na­tional economies will be placed un­der the di­rect over­sight of the ECB, which can also su­per­vise any other bank it wants within those coun­tries that have agreed to be come un­der its or­bit.

It’s a ma­jor evo­lu­tion in the ECB’s role, whose main job up to now has been to set in­ter­est rates for the eu­ro­zone.

The deal gives it broad new pow­ers, in­clud­ing the abil­ity to grant and with­draw bank­ing li­censes, in­ves­ti­gate in­sti­tu­tions, and fi­nan­cially sanc­tion banks that don’t fol­low the rules.

One of the key out­comes of the deal will be to pave the way for Europe’s bailout fund to give di­rect aid to ail­ing banks — a mea­sure that’s con­sid­ered vi­tal to help­ing Europe dig its way out of its 3-year-old debt cri­sis.

“We stick to what we promised,” said Ger­man Fi­nance Min­is­ter Wolf­gang Schaeu­ble. “Painstak­ingly, we ad­vance the cause of Europe.”

Later Thurs­day, EU heads of state and government were to gather for a sum­mit on build­ing a closer fi­nan­cial and po­lit­i­cal union, meant to avoid fu­ture fi­nan­cial crises.

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