The nation's automakers ended 2010 strong, with most reporting higher sales for December. Consumers seemed to put concerns about the U.S. economy on hold and more than offset reduced demand by fleet customers, such as corporations and rental-car companies.
The economy may be less robust than most Americans would like, but that didn't stop many of them from hitting the showrooms in December. That likely propelled auto sales in the final month of 2010 to 1.13 million units, the year's highest levels.
It's traditionally one of the slowest months of the year for vehicle sales, but most automakers reported higher U.S. sales in November compared to a year ago, despite continued consumer caution about the slow economic recovery.
Buoyed by consumers' increased confidence in the U.S. economy, most automakers reported higher sales of cars and trucks in the U.S. during October compared to a year ago -- making it the best October in three years for the auto industry.
Chrysler Group reportedly is planning to build a small car capable of 40 mpg based on a current Fiat design in a bid to boost its corporate fuel economy average.
In addition to state tax credits from Michigan -- and the billions of dollars already loaned it by U.S. taxpayers in the form of last year's bailout -- Chrysler may soon get approval for billions more in loans from the Department of Energy.
Chrysler Group is recalling 26,397 cars and trucks to repair power-steering hoses that may become disconnected and leak fluid, raising the potential for vehicle fires.
Vehicle sales have been less than stellar in recent months, disappointing some analysts. But the industry is gradually improving in a broad trend that is benefiting nearly all automakers -- including the Big Three, which have returned from the brink.
Auto sales turned in a strong performance in September. "People seem to be saying, 'It's not as quite as scary anymore,'" says Arthur Wheaton, automotive analyst at Cornell University's ILR School.
Chrysler Group is likely to pursue an initial public offering of stock in "chunks" rather than one big offering and not until the second half of 2011, the company's chief executive said Thursday.
Demand for new cars and trucks should be better than it was a year ago. But expectations now are for lower sales than in August, itself unimpressive. That would leave autos stuck in a four-month-long rut.
U.S. auto sales started off strong over the Labor Day holiday weekend, but have since dropped significantly, according to analysis by car-buying guide Edmunds.com.
Chrysler has taken the wraps off the latest iteration of the Jeep Wrangler sports-utility vehicle. But it will take a discerning eye to spot the subtle differences between the soon-to-be available 2011 model and those of its predecessor -- and that's the point.
