Auto Sales Rise

VOA Breaking News
January 4, 2012 at 5:25 pm

U.S.-based automakers say their sales rose sharply in 2011 as consumers gained confidence, interest rates remained low, and consumers replaced aging vehicles they held onto during the recession.

General Motors says its sales rose 13 percent, as customers bought 2.5 million of its vehicles. Rival Ford posted an 11 percent gain, and sold just over 2 million cars and trucks.

Chrysler says its U.S. auto sales rose a sharp 26 percent, as customers bought 1.4 million of its vehicles in 2011. The company's iconic Jeep brand boosted Chrysler's figures.

The 2011 sales increases are a major improvement over 2009, when sales hit a 30-year low during the worst recession in decades. Washington used emergency loans to bail out Chrysler and rival General Motors.

The financial crisis prompted U.S. auto companies to severely cut costs, streamline production, and introduce new, more fuel-efficient vehicles. Japan-based Toyota says its sales fell 7 percent for the year after natural disasters hampered production. U.S. sales fell from 1.8 million to just over 1.6 million.

Korea's Hyundai and Kia companies saw their combined sales surge 26 percent for the year, as consumers bought more than 1.1 million of their vehicles.

A study earlier this week said global auto sales will grow nearly 7 percent in 2012, helped by strong gains in China and some other emerging markets. The study says worldwide auto sales will probably hit 77.7 million vehicles this year.

Auto Sales Rise

VOA Breaking News
January 4, 2012 at 1:30 pm

U.S.-based automakers say their sales rose sharply in 2011 as consumers gained confidence, interest rates stayed low, and consumers replaced aging vehicles they held onto during the recession.

General Motors says its sales rose 13 percent, as customers bought 2.5 million of its vehicles.

Rival Ford posted an 11 percent gain, and sold just over two million cars and trucks.

Chrysler says its U.S. auto sales rose a sharp 26 percent, as customers bought 1.4 million of its vehicles in 2011. The company's iconic Jeep brand boosted Chrysler's figures.

The 2011 sales increases are a major improvement over 2009, when sales hit a 30-year low during the worst recession in decades. Washington used emergency loans to bail out Chrysler and rival General Motors.

The financial crisis prompted U.S. auto companies to severely cut costs, streamline production, and introduce new, more fuel-efficient vehicles.

A study earlier this week said global auto sales will grow nearly 7 percent in 2012, helped by strong gains in China and some other emerging markets. The study says world wide auto sales will probably hit 77.7 million vehicles this year.

Auto Sales Rise

VOA Breaking News
January 4, 2012 at 12:05 pm

Chrysler says its U.S. auto sales rose a sharp 26 percent over the past year, as the revamped company introduced new products and customers were encouraged by signs of an economic recovery.

Wednesday's report from the third-largest U.S.-based Automaker says it sold just under 1.4 million vehicles in 2011.

Last week, Ford Motor Company said its 2011 sales already exceeded two million units, so the firm is expected to report strong sales gains later Wednesday when it totals up results for the year.

Rising sales for 2011 are a major improvement over 2009, when sales hit a 30-year low in the midst of the worst recession in decades. Washington used emergency loans to bail out Chrysler and rival General Motors.

The financial crisis prompted U.S. auto companies to severely cut costs, streamline production, and introduce new, more fuel-efficient vehicles.

Analysts say December's overall sales pace probably rose to a 13.4 million vehicle annual rate. If that proves correct when other car firms report sales later Wednesday, it would mean that cars are selling at an annual rate nearly one million units higher than in 2010.

A study earlier this week said global auto sales will grow nearly 7 percent in 2012, helped by strong gains in China and some other emerging markets. The study says world wide auto sales will probably hit 77.7 million this year.