The American automaking business appears to be taking a couple of steps forward this week. U.S. consumers bought 1.4 million vehicles in the month of May, which was up 8 percent from the year-earlier period. They've also hired more than 14,000 workers so far this year, and the Center for Automotive Research projects that the car industry will add 35,000 jobs in 2013.
Pickup trucks look like the strongest category right now. General Motors and Chrysler both posted 20 percent gains in sales of full-size pickups for the month. The Ford F-Series pickup, which is the best-selling vehicle in America right now, reached a six-year high by moving more than 70,000 trucks in May.
In a measure of how far things have come, General Motors - which went into bankruptcy in 2009 - will be returning to the S&P 500 index on Thursday. GM will be replacing Heinz, which is going private after being bought up in part by Warren Buffett.
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