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  • Back from the crash

    Dec 13
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    By nearly every measure of success, Michigan's auto industry is now competitive.

    Auto sales are on the upswing; corporate earnings are positive; productivity levels are on par with Japanese competitors; and quality is vastly improved, among other key benchmarks. Of course getting to this point hasn't been easy. Two of Detroit's automakers went bankrupt; thousands of jobs were lost; investors lost money; and many of the brands people loved have been eliminated.

     

    What has emerged, however, is a new industry poised to hire, increase profits and continue developing advanced automotive technology.

    U.S. light vehicle sales in 2010 increased 11 percent over an almost 30-year low in 2009. The Center for Automotive Research and most other industry forecasters are projecting another double-digit sales increase — in the neighborhood of 12 percent to 14 percent — in 2011, and the future looks bright for a continued strong sales recovery in 2012 through 2014.

    The U.S. market for cars and trucks is reviving despite the economic uncertainties. Americans are starting to replace their old vehicles with new steel. Two factors driving sales are more available consumer credit, and the fact that the average vehicle on the road today is more than 10 years old.

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