(NEW YORK) — Car sales are revving up. After a surge of 14 percent this year compared to 2011, Edmunds.com forecasts another gain for next year.
Total car sales are likely to top 15 million. As with the improving housing market, accelerating car sales are being powered by low interest rates for consumer loans.
Ford Motor Co. said on Thursday it will expand manufacturing plants in its home state of Michigan. The company plans to spend nearly $800 million and create thousands of jobs by 2015. A Ford vice president says the investments will support its aggressive growth plans.
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Matt McFarland, CNN
Jose Pagliery, CNN
Kathryn Vasel and Jill Disis, CNN