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2011 US Auto Sales: Good but Far from Full Recovery
As expected early this 2012 year, automakers posted some very optimistic sales numbers for the United States marketplace for 2011. A place where consumers still love their cars, 2011 provided an excellent year for North American car fans. No other time in the North American auto industry has motorists been able to explore so much freedom and choice. In only three years, the American auto industry has turned from forecasted shambles to a rosier, settled environment. Hitting Chrysler and General Motors in the most severe manner, no major auto company was truly immune to the economic troubles started in late 2008. Similar to reaction from the global banking and financial sector, it wasn’t until a key period where the public truly understood until bankruptcy papers were being filed. The combination of troubled business models and customers losing access to money or car loans needed for purchases led to a disappointing start of the 2009 calendar year. Between seven major automakers selling vehicles in the United States (GM, Ford, Chrysler, Nissan, Honda, Toyota and Hyundai/Kia), auto sales amounted to 9,124,380 cars in all of 2009 (5,145,746 units lower than just two years prior). It was only through a United States government sponsored new car purchase program that the tides began to reverse. Known as “ Cash for Clunkers ,” motorists were able to trade in an old vehicle for a guaranteed trade-in credit. After the 12 months of 2011, the same seven automakers have steadily performed better than the disastrous 2009 auto sales year. When the 2011 year ended, 10,987,403 were sold by the seven high volume automakers in the United States. Up 20.4 percent from 2009, the 2011 results continued the gains made after 2010 as some elements of the economy recuperated. Recognizing there is so many reasons to celebrate the improvement of the North American motor vehicle industry, the recent auto sale numbers indicating positive momentum from dismal 2009 figures have shown that the current car business is far from past glory. The Detroit Three For automakers Chrysler, Ford and General Motors, six years have seen once-proclaimed Big Three transform into the more modest moniker Detroit Three. In 2005, General Motors led United States car sales handsomely...