U.S. auto sales in 2011 will be strong if January is any indication. Year-over-year sales were up for U.S. automakers in January, traditionally one of the worst months of the year for U.S. auto sales. The beginning of 2011 continues a trend established at the end of 2010 for U.S. auto sales, which are expected to continue improving along with the U.S. economy.
The recovery of the U.S. auto industry
The auto industry sale and pricing website, truecar.com, reported sales increases in January for almost every U.S. automaker. The low financing rates, stable fuel prices, demand, consumer confidence going up and new models of cars are making the U.S. auto industry do so well. Some of those new models include the completely redesigned Ford Explorer, the Chevy Cruze and the Volt plug-in hybrid from General Motors. The biggest sale increases for U.S. automakers were for Ford and General Motors.
U.S. auto sales facts
The fact that January’s U.S. auto sales figures showed less emphasis on fleet sales at deep discounts than in 2010 is another encouraging sign for the industry. Now, dealer showrooms are used again. That means households are returning to car lots. A 22 percent increase in sales for year-over-year was recorded by General Motors. In January, a 9 percent increase in sales was recorded by Ford. A 36 percent increase in individual buyers was shown by General Motors. The largest year-over-year increase in 10 years for that category was shown by Ford with a 27 percent increase. Nissan reported a 15 percent increase. An increase of 23 percent was reported by Chrysler. A 17 percent increase, which isn’t that great, was reported by Toyota, but Toyota recalled more than 10 million cars last year.
U.S. auto sales trending upward
U.S. auto sales overall in January were about 17 percent higher than the first month of 2010. From January 2010, the amount sold went from 10.8 million to 12.5 million in December to 12.6 million. Across the U.S. auto industry, sales rose 11.1 percent in 2010 to 11.6 million vehicles. The industry hit bottom with 10.4 million U.S. auto sales in 2009. More than 13 million U.S.-made vehicles are expected to sell in 2011. U.S. auto sales, in 2007, were 16.1 million before the recession hit.
Information from
New York Times: http://nytimes.com/2011/02/02/business/02auto.html?src=busln
Bloomberg: http://bloomberg.com/news/2011-02-01/ahead-of-the-bell-us-auto-sales-keep-up-slow-rise.html
Daily Finance: http://dailyfinance.com/story/toyota/january-auto-sales-should-build-on-2010s-momentum/19820056/
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