Tuesday, December 6, 2011

U.S. Car Industry Is Coming Back from the Dead


1. Guess What? The U.S. Car Industry Is Back From The Dead, and it will continue to get better (see video above). Reason? The average age of cars in America is now more than 10 years, compared to 6 years at the peak of the economic boom. This suggests that Americans will have to continue to buy new cars to replace the ones they have, which bodes well for future car sales.

Here's another reason that the U.S. car industry will expand output in the future:

2. "Toyota Motor Corp. said it plans to export its U.S.-built Camry sedan to South Korea, following the ratification of the free trade deal. The Japanese automaker plans to ship about 6,000 Camry vehicles annually from the United States to South Korea starting in January. Last month, Toyota started exporting its Sienna minivan to South Korea, as well.

It's the first time Toyota will export the U.S.-built Camry outside North America. Toyota faces cost pressures in Japan in assembling vehicles there because of the strength of the Japanese yen."  (HT: Mike W.)

And car sales in China are booming  for GM and Ford.

3.  "GM today reported its November sales in China shot up at their fastest pace in ten months; Ford reported its sales in China are up 7 percent this year -- all proof that in these tough economic times, somebody somewhere is buying something. That would be: people in China are buying cars."

No comments:

Post a Comment