Auto sales up in February

March 19, 2012 5:48:52 PM PDT
Automakers are a happy bunch these days. They are reporting strong sales in February, as Americans bought smaller cars to offset higher gas prices.

Many automakers reported double digit increases in U.S. sales. The results show the industry is on pace for its third straight year of improved sales.

Also contributing to the uptick is that the average vehicle on the road is now nearly 11 years old. Easy credit and improving consumer confidence are also being credited.