In 2010, the economy experienced moderate growth, which helped the U.S. automotive industry begin to recover from one of the most difficult years in its history. Overall, the U.S. light vehicle market grew 11 percent in 2010, with sales of 11.5 million vehicles. Sales of light trucks increased 18.4 percent and sales of passenger cars grew 4.3 percent. For 2011, auto analysts are forecasting additional growth with sales of approximately 13 million units. Light vehicle production also increased 36 percent last year and U.S. motor vehicle manufacturing employment increased slightly. All of the Detroit Three improved their financial performance in 2010. GM and Chrysler are recovering since emerging from bankruptcy in 2009, both in terms of sales and their bottom lines. Ford earned its largest profit in more than a decade, and resumed its position as the second top-selling automaker in the United States. GM earned its first profit since 2004, and its largest profit since 1999. Hyundai and Kia continue to increase their competitive position, more than doubling their combined market share in just seven years, from 3.8 percent in 2003 to 7.7 percent in 2010.
Road Ahead, 2011
2011
51 pages
Report
No indication
English
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