Auto industry celebrates hot sales year
The automotive industry took a hit during the recession as many Americans couldn't afford to purchase a new car following the economic downturn. However, by forgoing a new car purchase in recent years, many are contributing to the increased demand for new vehicles.
With 2012 coming to a close, many automaker's are reeling as final sales numbers are being posted. The pent-up demand for cars following the recession caused many Americans to make automotive purchases in 2012 and Chrysler is one automaker that saw gains as a result.
Chrysler sales increased 21 percent in 2012, beating out the industry projected increase of 13 percent.
"Chrysler Group ended 2012 on a strong note with December sales up 10 percent and our best December sales since 2007," said Reid Bigland, president and CEO – Dodge Brand and head of U.S. Sales. "Looking back on 2012, we were again one of the fastest growing automakers in the country with total sales up 21 percent. We also recorded 33-consecutive months of year-over-year sales growth and our strongest annual sales in five years.
Bigland added that seven of the automaker's vehicles recorded their best ever annual sales in 2012 showing how quality, design and fuel efficiency of the entire line up have resonated with consumers.
In addition, Chrysler posted its largest December sales number since 2007, marking the 33rd consecutive month of year-over-year sales increases. In particular, the Fiat brand was up 59 percent in December 2012 compared to December 2011, and the Dodge brand was up 26 percent during that same period.
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Chrysler was not the only automaker seeing the benefits from pent-up demand within the industry. Ford reported growth across all segments in 2012. The automaker said sales of cars were up 5 percent, utilities were up 7 percent and trucks were up 2 percent in 2012 on a year-over-year comparison.
"Ford finished 2012 strong, with retail sales showing improved strength as more customers returned to dealer showrooms," said Ken Czubay, Ford vice president, U.S. Marketing, Sales and Service.
Porsche also reported it sold 35,043 vehicles in 2012, up from the 29,023 sold in 2011.