US automakers' 2011 sales show turnaround

By Msnbc.com staff and wire

Detroit's Big Three automakers, GM, Chrysler and Ford, posted solid sales in 2011, showing how the rubber has begun to hit the road for auto demand after a long hiatus.

Chrysler said Wednesday its U.S. sales rose 26 percent last year, while Ford reported an 11 percent sales gain thanks to good demand for trucks and SUVs. GM said its U.S. sales rode 13 percent.

Chrysler?ended the year with a 37 percent increase in December sales on strong demand for the Jeep Wrangler and Chrysler 200 sedan.

Ford sold 2.1 million vehicles last year, a sign of the industry's continuing recovery. It was the first time the Ford brand has passed the 2 million mark since before the recession in 2007.

GM sold just over 2.5 million new cars and trucks in the U.S. Its December sales rose nearly 5 percent from a year earlier.

The Chevrolet Cruze compact and the Chevrolet Silverado and GMC Sierra pickup trucks led sales.

Strong sellers for Ford included the new?Explorer SUV, which more than doubled sales from 2010. The Escape small SUV and Ranger small pickup also posted big increases.

Ford's car sales rose 4 percent. Sales of the Fiesta subcompact nearly tripled over 2010, but Ford didn't get much traction with its new Focus small car.

Ford's Lincoln brand sales were flat.

Ford says December sales climbed 10 percent over the same month last year.

After hitting a 30-year low in 2009, U.S. auto sales are poised for a second straight year of growth -- the result of easier credit, low interest rates and pent-up demand for cars and trucks created by the Great Recession.

The sales forecast bodes well for the industry's continued recovery and for the broader American economy.

In 2009, Detroit automakers were in peril. Car sales plunged as unemployment soared, and loans became harder to get. Chrysler and General Motors filed for bankruptcy protection. Ford avoided bankruptcy only by borrowing billions.

Now credit is more available, interest rates are low and Americans need to replace old cars and trucks they kept during and after the downturn. Millions of drivers in their teens and 20s are expected to buy vehicles, too. That could mean more jobs, more factory shifts and overall growth.

The Associated Press and Reuters contributed to this report.

Source: http://bottomline.msnbc.msn.com/_news/2012/01/04/9945534-us-automakers-2011-sales-show-turnaround

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