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USA: GM Leads U.S. Automakers Securing Best Sales Year Since ‘08

Jan. 4 (Bloomberg) — General Motors Co., Ford Motor Co., Chrysler Group LLC reported December vehicle sales that beat analysts’ estimates, capping the U.S. auto industry’s best year since 2008.

Auto sales increased as consumer confidence reached an eight-month high in December, and carmakers aired holiday ads and continued promotions started in November. The U.S. automakers rallied in 2011, two years after GM and Chrysler emerged from U.S.-backed bankruptcies. GM also reclaimed the top spot in world vehicle sales from Toyota Motor Corp.

“It’s been a phenomenal turnaround for the Big Three,” Michelle Krebs, an analyst with researcher Edmunds.com, said in an interview. “Chrysler and GM have the American taxpayer to thank for that, but in the end, it’s been a good investment.”

GM’s December vehicle sales rose 4.5 percent to 234,351, topping the average 4.4 percent gain of eight estimates. Ford’s December light-vehicle deliveries rose 10 percent to 209,447, exceeding the average estimate for a 7.7 percent gain. Chrysler’s December sales jumped 37 percent to 138,019 cars and light trucks, more than the average 33 percent estimate.

More businesswkeek.com

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