Business Checks

The auto industry ended its worst year in memory with one of its best sales months of the year.

Overall industrywide U.S. sales soared 15% compared to a year ago, the biggest percentage gain since July 2005. Total sales topped the 1 million mark for only the second time this year, trailing only August. Sales spiked that month thanks to the federal government’s Cash for Clunkers program. With a good end, alot of business used a business check to pay for their companies new vehicle.

Most of the automakers posted better than expected results as five of the seven largest automakers reported increases of 18% or more from a year earlier.

But the boom in December wasn’t enough to lift the industry out of its year-long slump. Last year was a tumultuous one for the industry to say the least as GM and Chrysler filed for bankruptcy and many auto plants and dealerships closed.

Full-year sales fell 21% from 2008 to 10.4 million, a 27-year low. Last year’s sales are also far below the 16.7 million annual average during the 10 years before the start of the recession.