After hitting its best year in the last five in 2012, the auto industry continued its comeback into 2013, posting solid January numbers and predicting another record year.
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In the third quarter, Capital One witnessed strong growth in auto loans and we expect auto originations to remain strong, driving continued growth in auto loans.
This follows encouraging economic news from increased auto sales to continued expansion of our manufacturing sector.
As a result of pent up demand and consumer credit becoming more readily available, the U.S. auto industry has continued to recover in 2011.
Sales in the auto sector benefited from continued easing of supply chain disruptions as Japan recovers from the disastrous earthquake-cum tsunami combo that rattled global production.
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"While these results indicate Take-Two's efforts to diversify its portfolio beyond Grand Theft Auto are showing some success, continued product delays and the lack of profitability in non-Grand Theft Auto years, driven in part by the MLB license, will continue to weigh on shares, " says Heath Terry of FBR Capital Markets.
Auto sales were flat due to continued weak demand, while sales at its solar cell and mobile phone fell.
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Sugato Sen, SIAM's deputy director general, said the continued slowdown is forcing auto makers to "reschedule" their expansion programs, adding that some may eventually cut their investment plans.
Honda's profit soared on an auto-production rebound, while rival Mazda continued to post a loss despite increased output.
The analyst says his more bullish view on Siris reflects continued improvement in U.S. auto sales and evidence that a precent price hike is not affecting churn, retention and discounting as much as he had feared.
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On one hand, we could have continued the practice of handing out billions of taxpayer dollars to the auto industry with no real strings attached.
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Citi is bracing itself for continued weakness in the consumer credit markets, as indicated by rising delinquencies on home loans, auto loans, personal loans and credit cards.
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