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Fastrack Auto Loan 2011 Auto Loan News

By Fastrack Subscribe to RSS | February 20th 2012 | Views:

U.S. auto sales wrapped up a restless 2011 on a positive note, surging in the December dead end of the year, with Detroit’s automakers helping drive the overall market to its highest level since the start of the long economic downturn. It is all by fighting earlier concerns about a double-dip recession and further celebrating the Christmas month both for the customer and the automakers. The overall sales of new cars, trucks and crossovers increased by almost 10.2% during 2011, largely paced by a surge in demand for domestic brands. U.S. auto sales finished 2011 on a surge, as Detroit automakers all reported elevated sales figures during the last few weeks of last year.

U.S. new-vehicle sales are an early indicator each month of consumer spending, and the United States is the world's second-largest auto market behind the competitor China. Automakers are headed for full-year 2011 sales of about 12.8 million vehicles, 10 percent higher than 2010. U.S. auto sales have been a relative bright spot, with many cash-strapped consumers forced to purchase cars and trucks to replace vehicles that have been on the road for more than a decade or even longer. The vehicles sales at the end of the year exceeded expectations as consumers shrugged off continued high unemployment rates and took advantage of large promotions and discounts.

Sales last month rose at 4.5 percent, 10 percent, and an enormous 37 percent gain respectively for GM, Ford and Chrysler. December’s figures underscores the automotive industry’s rebound in 2011, as overall vehicle sales gained 10 percent, the best year since 2008. They also represent impressive turnaround for GM and, both of which underwent bankruptcy restructuring in 2009. For the year, Ford sales increased 17 percent while Chrysler’s increased by 26 compared to 2010. GM finished the year up 14 percent. All three companies benefited from new models introduced last year.In the year end GM increased the sales with the introduction of Chevrolet Cruze compact car, with a rise of 53 percent. Ford benefitted due to sales of Ford’s SUVs, including the new Ford Explorer. And Chrysler’s gains were driven by good results from its Jeep segment. “It’s been an unparalleled turnaround for the Big Three,” “Chrysler and GM have the American taxpayer to express thanks for that, but in the end, it’s been a good investment.”

Anyhow it is a happy ending for the auto industry and the beginning of New Year brings new hopes in the auto market. Happy New Year!

As Fastrack Auto Loan Will Keep You update on all yearly Market Reviews….!!

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