At its peak, auto sales in the United States used to exceed 16 million every year. Then, the economic crisis hit. People lost their jobs, could not pay their mortgages, and stopped buying new cars. The auto industry had a very difficult year in 2009. However, December saw an increase in sales year-over-year. The United States automotive sales were 11.2 million in December 2009. While Ford’s auto sales were down for the year, they saw a 33 percent increase in sales in December 2009 when compared to December 2008.
This economic recovery is a slow one, especially for the auto industry. All of the domestic automakers saw a drop in sales for the year. However, Ford’s sales have been increasing as of late December. Many see them as the company to beat. Financial gurus have been praising Ford for being a strong domestic car company that will be an industry leader before you know it.
General Motors, on the other hand, saw a six percent decrease in sales in December 2009. While the United States government owns most of General Motors, there have been rumors that General Motors will go public again later this year.
Chrysler’s December sales did not fall as much as General Motors. They were down four percent, when compared to December 2008 sales. Chrysler’s sales for the year were down nearly 40 percent.
Clearly, Ford is going into 2010 with plenty of momentum. Their share price has been performing very well and they have solid leadership. If Chrysler and General Motors can get their act together and increase sales, they may be able to help the American auto industry escape from this recession stronger than ever.
***
Check here for more updated news on Ford.
You must log in to post a comment.