Ford Dealers Say Credit Access Helping Recovery in Auto Sales

New-vehicle buyers are having an easier time getting credit, signaling U.S. auto sales may continue to accelerate after last month reaching the fastest pace since the government’s “cash for clunkers” program.

Federal Reserve data shows banks began easing consumer- lending standards in July, and the Fed’s loan facility program rejuvenated the market for securitized auto debt, said  Ellen Hughes-Cromwick, Ford’s chief economist. Data from CNW Research shows improved sales for buyers with weaker credit scores.

Read more:
http://www.bloomberg.com/news/2010-10-08/ford-dealers-say-credit-access-helping-recovery-in-auto-sales.html

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