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Automotive Rally Continues With Strong Sales

General Motors recorded a 91 percent jump in profit in the fourth quarter. (Bill Pugliano/Getty Images)
General Motors recorded a 91 percent jump in profit in the fourth quarter. (Bill Pugliano/Getty Images)

U.S. automakers reported strong sales in January, a time of year that’s normally slow for the industry.

General Motors also recorded a 91 percent jump in profit in the fourth quarter. The company says it will issue $9,000 profit-sharing checks to 48,000 of its employees.

The auto industry is in the midst of a rebound after the recession brought many of the large automakers to the brink of collapse several years ago.

CNN business correspondent Maggie Lake tells Here & Now‘s Robin Young that an improving economy and low gas prices have convinced consumers to buy new cars.

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