The Commercial Appeal

Americans bought lots of cars in July

-

Surprising U.S. sales gains from the Detroit Three and top Japanese automakers provide another indication that the American consumer is back and ready to spend.

With the six biggest sellers of autos in the U.S. all increasing volumes and beating estimates last month, the industry is flirting with sales levels not seen in 10 years or more.

Americans are buying pricey sport utility vehicles and pickups with luxury cabins, adding to the economy’s momentum as gasoline and financing are both relatively affordable.

Consumer confidence is solidly in pre-recession territory, which has inspired consumers to start trading in their old rides.

Millennial­s are piling into the market, too, said Larry Dominique, executive vice president for carpricing website TrueCar Inc., so the sales results are no fluke. natural gas and stricter pollution regulation­s.

Alpha operates about 60 coal mines, many in parts of Appalachia that have seen the sharpest declines in coal demand and coal prices as electric power customers have switched to natural gas. It is the fourth U.S. coal company to seek bankruptcy protection in the last 15 months.

The bond rating agency Fitch expects coal companies to struggle in the future.

“The sector default rate is likely to increase further in the near term,” its analysts wrote in a note to investors Monday. been scheduled to sail in Europe through early 2017, would instead head to Port Canaveral in November of 2016.

Newspapers in English

Newspapers from United States