Detroit 3 automakers will continue to post strong growth in coming months

Article by Anita Panait, on May 7, 2013

The Detroit 3 carmakers -- General Motors, Ford Motor Co. and Chrysler Group – all posted double-digit gains in sales in April 2013 in the United States. Aside from strong growths, the Detroit 3 all managed to post big earnings as well as command a large chunk of the US market. GM, Ford and Chrysler altogether controlled 46.9 percent of the US market in April 2013, the highest since September 2011.

Economic indicators show that they are likely to post further growth in the coming months. Auto executives and analysts expect the modest yet steady rise in the housing market to keep boosting pickup sales. Likewise, small businesses now seem to be making big purchases. Joe Hinrichs, Ford's president of the Americas, told Automotive News that they are confident that the housing market will continue to grow and improve. Sales of full-sized pickups surged 27 percent in April 2013 and 20 percent for the year.

Vehicle buyers are now starting to reconsider acquiring larger sports utility vehicles, thanks to significant improvements in fuel economy and easing gasoline prices. These conditions all work in favor of the Detroit 3, which are now offering a number competitive car models among their big, brawny trucks that offer large profit margins.

GM, Ford and Chrysler all logged double-digit jumps in April and have gained over 2 points of combined market share at the expense of Toyota Motor Sales, American Honda Motor Co. and Hyundai-Kia Automotive. In contrast, Toyota now only commands 13.7 percent of the US vehicle market as its top-selling Toyota Camry sedan was outsold by the Nissan Altima in March and by the Honda Accord in April.

Topics: gm, ford, chrysler

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