Consumers Are Buying More Cars: Auto Sales Jump in January as Oil Prices Drop

In what's traditionally a lackluster month for auto sales, the numbers for January are in and the results were encouraging.
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In what's traditionally a lackluster month for auto sales, the numbers for January are in and the results were encouraging. Toyota saw sales jump 15.6% to 169,000 vehicles. Sales for General Motors jumped 18% year-over-year. The company delivered over 202,000 cars - it's highest sales since 2008. Ford had its best sales in 11 years, with a 13% rise in January. Fiat Chrysler said sales jumped 14% to about 145,000 cars, a level not seen since 2007. As for Nissan, sales increased 15% to around 104,000, record for its January sales. The rest of 2015 looks positive for the auto industry. Sales are expected to rise 13% to 1.14 million vehicles, according to Kelley Blue Book. Plus, low gas prices is providing an extra boost to SUV sales in particular. The national average for a gallon of gas stands at $2.07, according to AAA. TheStreet's Scott Gamm reports from New York.