American Auto Industry Has Best Performance in 20 Years - Bloomberg
Detroit’s boom-and-bust history was built on a dependence on big, fuel-thirsty vehicles. Now, with freshly stocked showrooms of new cars and more-efficient trucks, U.S. automakers are gaining ground on their Asian competitors with the best lineup in a generation.
“No matter what the economy does, no matter what fuel prices are, I’ve got a car for all seasons,” said Chuck Eddy, a Chrysler dealer in Youngstown, Ohio, who is seeing sales boom for Dodge Dart compact cars and Ram 1500 pickups. “I didn’t have that in ‘09.”
General Motors Co (GM), Ford Motor Co. (F) and Chrysler Group LLC — which all gained market share in the first quarter for the first time in 20 years — exceeded sales forecasts last month and led the industry to its best April since 2007.
Ford sales rose 18 percent and GM and Chrysler deliveries both increased 11 percent. That beat forecasts by analysts of a 17 percent rise for Ford and 10 percent for Detroit-based GM and Fiat SpA (F)-controlled Chrysler.
Sales successes came across the board for the U.S. automakers last month. Ford had a record April in Fusion family- car sales, which rose 24 percent and topped Nissan Motor Co. (7201)’s Altima. GM’s hot-selling new Cadillac ATS sports sedan drove a 34 percent increase in the surging luxury line’s sales. Chrysler’s redesigned Ram 1500 pickup jumped 49 percent.