US auto sales expected to hit an all-time high

Posted at 8:59 AM, Jan 05, 2016
and last updated 2016-01-05 08:59:17-05

DETROIT (AP) -- Americans are buying more new cars than ever before.

U.S. auto sales were expected to reach a record high of 17.5 million in 2015, topping the old record of 17.35 million set in 2000.

Automakers report December and full-year sales Tuesday.

Low gas prices, historically low interest rates and a stronger economy are fueling the boom. Buyers who held off purchases during the recession have also been lured back into the market by enticing new vehicles.

Car shopping site predicted the biggest December in history for the auto industry, with nearly 1.7 million vehicles sold.

Among the first to report, Fiat Chrysler's U.S. sales said its sales jumped 13 percent over last December, while Nissan's sales were up 19 percent.

AP-WF-01-05-16 1344GMT