Better Off? U.S. Auto Sales Booming

American auto sales are growing faster than the economy, in a sign of renewed strength for the previously troubled industry.

Chrysler announced today that sales had increased 14% in August, thanks to demand for Ram pickup trucks. GM sales were up 10%, Volskwagen sales were up 62%, that company’s best August sales performance since 1973.

Ford also announced double-digit increases in auto sales.

President Obama and Vice President Biden have both recently touted the success of the government rescue of GM, and contrasted it to Mitt Romney’s desire to “let Detroit go bankrupt.”