The auto industry surviving

Ford Motor Co.’s light vehicle sales soared 20 percent in February, while Fiat Chrysler Automobiles NV deliveries climbed 12 percent as both far exceeded analyst estimates, thanks to promotions tied to the Presidents Day holiday and continued strong demand for sport utility vehicles and pickups. Nissan Motor Co. also beat estimates, but General Motors Co. missed.

Ford, projected to report a 13 percent increase for the month, topped that in all three categories: cars, SUVs and pickups. Fiat Chrysler, projected to report a 9.2 percent increase, extended its U.S. sales-gain streak to 71 months. Jeep deliveries advanced 23 percent from a year earlier to 68,228, led by the Cherokee and Grand Cherokee. The SUV brand reported its best February ever, as did the company’s Ram pickups, sales chief Reid Bigland said in the statement.

I was pessimistic because the default index on auto loans was rising.  Here we see enough momentum the autos, and Chinese asset purchases to push the recession  date farther out. I am surprised to the upside.