January Auto Sales: U.S. light vehicle sales rose 11% in January from a year ago. The seasonally-adjusted annual sales rate for January hit 14.2 million, August 2009 - the month of 'cash for clunkers'. The January SAAR compares to a SAAR of 13.6 million vehicles in December.

Chrysler Group reported a jaw-dropping 44% gain in domestic auto sales, led by the Chrysler nameplate which increased 81% over January 2011. The Jeep brand jumped 37% in sales. Chrysler also reported its first yearly profit since 1997 - $183 million net on $55 billion in net revenue. Chrysler sold 1.37 million light vehicles in the U.S. last year, a 26% gain in a market that advanced 10%.

Mazda sales were up 68%; Volkswagen increased 48%. Kia saw a 27% rise, while Hyundai rose 15%. Mercedes-Benz sales were up 23%. Subaru sales increased by 21%.

Honda was up 9%, as was Toyota. Avalon sales increased 79% to 3,219 units, while Camry sales increased 58%. Lexus LS sales dropped 22% to 573 sedans; overall sales of the Lexus brand declined by 5%.

Ford Motor Co. sales were up 7% to 136,710 units, driven by record sales of the Focus. Lincoln sales declined by 8%. Only 279 examples of the hideous MKT were sold in January.

General Motors sales declined 6%, with Cadillac sales off by 29%. Buick sales were down 23%. Only 603 Chevrolet Volts were sold during the month.

GM's overall inventory increased to 89 days, up from 67 days in December. Full-size pickup trucks were the biggest contributor to unsold product.

Scale Pioneer: David Sinclair, who owned and operated Sinclair's Auto Miniatures for nearly 50 years, has died at age 90.

Sinclair started out in the mail order business in 1963 selling imported gift items and soon began importing miniature model cars from all over the world, beginning with Rio (Italy) and Lesney products (UK).

He quickly learned that ... (more >>>)

Another Lie About Auto Bailouts: Last week, Barack Obama claimed that he "saved the auto industry," referring to government bailouts, not making clear how he "saved Ford" which received no bailout.

This week, the U.S. Treasury Department boosted its estimate of government losses in the $85 billion auto bailout by $170 million. In the government's latest report to Congress this month, the Treasury upped its estimate to $23.77 billion, up from $23.6 billion, because of a decline in the value of General Motors stock.

At current prices, the government would lose more than $14 billion on its GM bailout.

The sharp decline in GM's stock price has put the government's sale of its remaining shares on hold. The government booked a $1.3 billion loss on its $12.5 billion bailout of Chrysler.

As part of its $17.2 billion bailout, the Treasury still holds a 74% majority stake in Ally Financial, formerly known as GMAC. Ally put its IPO on hold indefinitely last year because of market weakness.

Back in 2008, I suggested that a Chapter 11 bankruptcy would be preferable to a bailout.

Instead, Barack Obama lavishly rewarded the UAW and screwed the bondholders and taxpayers. It's just one more Obama success story.

Manny, Moe & Alan: Philly-based auto parts chain Pep Boys has been sold for $1 billion ($15 a share) to private equity buyer Alan Gores.

The first store was opened in Philadelphia in 1921. Company headquarters are still located in the city. Pep Boys operates 723 stores and approximately 7,000 service bays in 35 states and Puerto Rico.

In somewhat-related Philly news, the New York Post is reporting that the Philadelphia Inquirer, Philadelphia Daily News and philly.com are up for sale - again. The current owner, Philadelphia Media Network, is hoping to get $100-million or so for the papers and the website.

Anti-Catholic In The White House: On January 20 - three days before the annual March for Life - the Obama administration announced its final decision that Catholic universities, hospitals and charities will be compelled to pay for health insurance that covers sterilization, contraceptives and abortifacients, such as the morning-after pill.

The administration has insisted that Catholic institutions be forced to pay for the privilege of violating ... (more >>>)

Book Review: 'That Used to Be Us: How America Fell Behind in the World It Invented and How We Can Come Back' by Thomas L. Friedman and Michael Mandelbaum

This book begins with a dramatic and well-told story. In 2010, Friedman traveled to China and experienced the new Chinese high-speed train as well as the new, seemingly-perfect Meijiang Convention Center (2.5 million square feet, with gigantic escalators), which had been constructed in only eight months.

He returns home only to learn from Mandelbaum about the sorry state of the Bethesda stop of the DC Metrorail subway, which still has broken escalators - resulting from poor maintenance; they will be out of service for six months due to the complexity of the parts ordering approval process. And, when Tom Friedman visits the White House, a door handle comes of in his hand. "Oh, it does that sometimes," said a Secret Service agent nonchalantly.

It's much like ... (more >>>)

Quote Of The Day is from P.J. O'Rourke: "The U.S. Constitution is less than a quarter the length of the owner's manual for a 1998 Toyota Camry, and yet it has managed to keep 300 million of the world's most unruly, passionate and energetic people safe, prosperous and free."

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