Stories about the automotive industry have been in the newspapers and on the television newscasts for months now, which has been bleak stories to say the least. Lately, there has been some positive stories from the auto industry, most notably stories about improving auto sales across the country. In 2009, the automotive industry struggled the most out of any other industry in the country. There were thousands of jobs lost and hundreds of manufacturing plants closed due to the recession and Americans not buying new cars.
Both General Motors and Chrysler suffered various bankruptcy reorganizations during 2009 because of the recession. There is hope though. The month of December could have been the most profitable and successful month in 2009 for the automotive industry, while pending final statistics. Various experts within the automotive industry feel that it might have posted double-digit figures in sales. J.D. Power and Associates is one of the most well known statistic companies around. They estimated December 2009 would be better than December 2008 for the auto industry.
It is estimated that total auto sales for the month of December should surpass 1,029,000, which is up seven percent from December 2008. On the other side of things, Edmunds.com has predicted, based on sale results of 2009, over 11 million vehicles will be sold in 2010. In 2009, there were only 10 million sold. Recently, the sale of hybrid vehicles has helped the automotive industry. Ford sold 31,000 units through the month of November.
Although the automotive industry has faced what could only be described as a bit of a speed bump in recent years, Baltimore Used Cars already sees 2010 as a turning point in the business. While automakers are changing the way they design and produce cars, consumers are also refocusing on value above all else. Even while new car sales may be rebounding, Worcester Auto Body sees that more drivers are interested in holding on to their vehicles for longer periods of time.
Read more in depth about upcoming auto sales on our blog.