Impressive recovery for car and truck sales

It may be an under-appreciated fact, but car and truck sales have enjoyed a rather spectacular recovery in the past four years. 

Although they haven't made new highs for six months, total vehicle sales in the U.S. have risen at a 13.2% annualized pace since hitting bottom in early 2009. That's over four years of double-digit gains.

Domestic light truck sales have done even better, rising at a 16.1% annualized pace over the same period, and now at a new post-recession high.