The 17 percent surge in U.S. auto sales last month pushed the annual rate to a pre-recession, boom-time level. Even more significant, Detroit automakers are reaping profits not seen since the turn of the century.
Nissan Motor Co.’s take-no-prisoners approach to gaining U.S. market share has the auto industry worried that a price war is brewing that will erode the profit progress made since the recession ravaged auto sales.
At his Houston Cadillac store last weekend, Carl Sewell had an unusual experience: He helped a mother secure a baby seat into a car she was considering. Young- shopper sightings were once a rarity for Sewell.
As the auto industry struggled to recover from the recession, it swore off the deep discounting that destroyed profits and led to disaster. Now, a price war has erupted in the industry’s smallest segment: electric cars.
Ford Motor Co. , returning to the U.S. minivan market after at least a four-year absence, will count on a compact people mover it developed in Europe to drive sales to the children of the American Baby Boom generation.
Chevrolet Dealer Gordon Stewart’s greatest challenge used to be competing against superior Japanese sedans. Now his biggest headache is getting General Motors Co. to build enough Chevy cars to satisfy growing demand.