“We’re almost at a pre-recession pace that looks like it may have the momentum that will carry it through the second half of the year and beyond,” Alec Gutierrez, senior market analyst for Kelley Blue Book, said in the article.

Consumers are driving up auto sales as they feel more comfortable with the low interest rate environment, improving economy, rising consumer confidence and improving home values. Additionally, rebates and low-interest loans are also supporting demand.

First Trust NASDAQ Global Auto Index Fund

For more information on the car industry, visit our automobiles category.

Max Chen contributed to this article.