General Motors Co., Ford Motor Co. and Chrysler Group LLC -- also widely known as Detroit 3 -- all managed to gain market share in the United States in the first six months of 2013. It marks the first time in 20 years that all three US carmakers were able to increase their market shares in the country.
All three carmakers also managed to post vehicle deliveries that are way above the industry average in the first half of 2013, driving industry-wide sales to the highest rate since 2007.
The auto industry posted a 9.2-percent increase in sales in the period, bringing the annual sales rate to nearly 16 million. Much of this increase could be attributed to the strong sales of Detroit 3, helping the industry grow faster than expected.
John Wolkonowicz, a Boston-based automotive historian, noted to Bloomberg that the last time when all Detroit 3 carmakers gained market share in the first half was in 1993. He noted that back then, many vehicle buyers were from the Depression generation, which was more lenient over flaws in models produced by the Detroit 3, than Baby Boomers were.
He said that the carmakers' current offering are "probably some of the best products" from them since the early 1970s. Wolkonowicz believes that a new generation is embracing Detroit --younger buyers are more prone to buy American products as they beg to be different than their parents "who fell in love with Japan Inc."
According to a survey of 18 industry analysts by Bloomberg News, carmakers may be bound to sell 15.4 million cars and light trucks in the US in 2013, up from an early year projections of an average of 15.1 million. [source: Bloomberg]