|
Detroit MI and other major automakers saw an overall rise in sales during the month of December following three increasing months. Many believe this to be a positive forecast for the new year and think change is coming as overseas manufacturers take more market share.
Detroit MI auto industry followers waited to see what the final sales numbers would turn out to be for the month of December and for the whole year. Most automakers saw an increase from sales numbers from the year before while others like Toyota are still trying to come back from a negative change in sales.
The biggest news for previous months’ sales data is the possibility of it changing from the Big Three to the Many Seven, according to some analysts. Hyundai Motor Co., who sold a record-making 500,000 vehicles in the U.S., which it has never done before, was very close to gaining 5 percent of the market share this year, but stopped shy at 3.91 percent. According to the Wall Street Journal, if Hyundai hits the 5 percent mark as the Korean automaker is predicted to, the U.S. market will have a dramatic shift from the time when the Detroit Three dominated the market and were the deciding factors of the industry’s movement.
The seven would be: General Motors, Ford, Toyota Motor Corp., Honda Motor Co., Chrysler, Nissan Motor Co. and Hyundai.
"I think it's fair to say we are entering a new era," said Jim Press, a former Toyota and Chrysler executive now working as a consultant to several vehicle makers, in a Wall Street Journal article. "You have a completely different situation when you have six or seven companies that are all established, with a significant customer base. It's not like the old days when it was the Big Three and then all these little guys."
Detroit MI automaker General Motors is still on top of the pack with 19.58 percent of the market followed by Ford with 16.61 percent of the market and Toyota in third place with 15.50 percent of the market. Honda beat out Chrysler with 11.32 percent to Chrysler’s 8.80 percent market share.
GM’s sales rose 8.5 percent from November with an overall 7.2 percent increase for the total year of 2010. It was an overall good year for GM as its IPO was extremely successful, earning it the title of largest IPO in history. This Detroit MI Big Three member is working its way back to its original glory.
[Rewind: Detroit MI Automaker General Motors Stock Up 15 Percent Since IPO]
The other two members of the Big Three did well as Ford increased 6.8 percent for December with total sales for the year almost 20 percent, and Chrysler saw a 16.4 percent climb in sales last month to complete a 16.5 percent increase this year.
Toyota ended another month with negative earnings in terms of the percentage of sales change from this time last year. For December there was a 5.5 percent fall in sales for Toyota as 2010 was a struggling year for this major automaker with so many recalls.
[Recall: Detroit MI Toyota Drivers Warned of Toyota Recall with 740,000 U.S. Vehicles Affected]
Hopefully the automotive industry is on its way to a full or at least a better recovery this year. The number project growth continuing positively, so only time will tell.
MI Auto Times covers all Michigan automotive news all the time, featuring newly released vehicle recall information, relevant Michigan automaker news, vehicle ratings and comparisons, and everything else auto-related Michigan and world readers need to know.
Got a hot tip? Send your news tips to news@miautotimes.comor connect with us on facebook: www.facebook.com/MichiganAutoTimes.
|