Free Newsletters - Space News - Defense Alert - Environment Report - Energy Monitor
. 24/7 Space News .




CAR TECH
Triumphant Detroit set to shine at auto show
by Staff Writers
Chicago (AFP) Jan 12, 2013


The Detroit Three carmakers return triumphantly to their hometown auto show Monday flush with profits from popular vehicles and the rewards of successful -- though painful -- restructuring.

But the competition is not standing still, and with the United States one of the few bright spots in the automotive market, the fight for customers will be fierce.

"I don't think there's an automotive company in the world that doesn't view the US as the most important market to them," Joe Vitale, an automotive analyst with Deloitte, told AFP.

"Whoever wins in the US market is well positioned to win globally."

US sales are expected to rise to between 15 and 16 million vehicles this year after jumping 13 percent to 14.5 million vehicles in 2012, the biggest yearly gain since 1984.

With growth slowing in China and Brazil, and Europe in dire straits, the US market is even more important than usual.

Germany's Volkswagen, which cannot achieve its goal of becoming the world's biggest automaker without dramatically increasing its sales here, has already begun to profit from an aggressive plan to expand its US offerings.

VW's US sales jumped 35 percent last year to nearly 440,000 vehicles after its new Tennessee plant became fully operational, boosting its share of the market by half a point to three percent.

German carmakers Mercedes, Daimler and Audi are also looking to the US to offset weakness in Europe and to maintain their solid advantage in the luxury market over less prestigious US and Asian brands.

General Motors, which remains firmly in the top spot at home with a 17.9 percent share, lost market share after eliminating brands to streamline operations.

Yet the firm is also expanding and reaping profits huge enough to buy out what was left of the US government's stake obtained after financing GM's 2009 bankruptcy.

Japanese giant Toyota commanded 14.4 percent of the US market last year as sales rose 27 percent. It is forecasting an even better performance in 2013 now that it has recovered from the devastating 2011 tsunami and a series of mass recalls in 2009 and 2010.

But Ford does not look ready to give up the number two spot in its home market, even though its market share slipped by over a point last year to 15.5 percent.

After years of retrenchment and painful restructuring, Ford is expanding again and on Friday announced plans to add 2,200 salaried positions -- mostly in engineering, production and IT -- in the United States.

It has also said it will double its dividends in 2013.

Chrysler has clocked a remarkable 33 consecutive months of sales gains in the United States since emerging from bankruptcy under the stewardship of Italy's Fiat in 2009, which is now relying on Chrysler's huge profits to offset losses in Europe.

That has allowed it to maintain its lead over Honda for the number four spot in the market, with 11.1 percent to 9.8 percent respectively, even as the Japanese rival posted stronger gains last year.

The renewed financial health of the Detroit Three after years of bleeding balance sheets comes after mass layoffs and plant closures.

"The difference is that now automakers and auto suppliers are making money at volumes where they weren't making money before," said Dave Sergeant, an analyst at JD Power.

"They've taken a lot of cost out and the industry's in a much healthier state than it has been for a number of years."

GM and Ford have also shown important restraint by cutting production rather than trying to hang onto market share by offering damagingly deep discounts, noted Standard and Poor's equity analyst Efraim Levy.

Now that their books are in order, it's time for the Detroit Three to show their investments in new products hit the mark, Levy said.

"That's the test we're going to see now," he said in an interview. "The competition is not waiting."

.


Related Links
Car Technology at SpaceMart.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





CAR TECH
Toyota hit US production, sales records in 2012
Chicago (AFP) Jan 10, 2013
Japanese auto giant Toyota set new records for vehicle productions, sales and vehicle launches in the United States and said Thursday it has "strong momentum" going into 2013. "Toyota achieved a number of important milestones in 2012," said Jim Lentz, head of Toyota Motor Sales USA. "As we continue with the most aggressive product launch in our history, we're confident this momentum will ... read more


CAR TECH
Mission would drag asteroid to the moon

Russia designs manned lunar spacecraft

GRAIL Lunar Impact Site Named for Astronaut Sally Ride

NASA probes crash into the moon

CAR TECH
Mars One announces requirements for Red Planet colonists

Opportunity Heading Toward Light-Toned Veins

Bacteria In Rio Tinto Could Be Like Those On Mars

Mars500 project - salt balance of the Mars 'astronauts'

CAR TECH
AXE to Send 22 Guys to Space with New Apollo Campaign

IBM tops as tech titans scramble for US patents

Chinese tech firms pump up volume at CES

High fashion, high tech intersect at CES confab

CAR TECH
Mr Xi in Space

China plans manned space launch in 2013: state media

China to launch manned spacecraft

Tiangong 1 Parked And Waiting As Shenzhou 10 Mission Prep Continues

CAR TECH
Crew Wraps Up Robonaut Testing

Station Crew Ringing in New Year

Expedition 34 Ready to Ring in New Year

New ISS crew docked at Space Station

CAR TECH
Roscosmos Releases Report On Proton Launch Anomaly

Russia plans replacement for Soyuz rocket

Arianespace's industry leadership will continue with 12 launcher family missions planned in 2013

Arianespace addresses The Insurance Institute of London

CAR TECH
Earth-size planets common in galaxy

NASA's Hubble Reveals Rogue Planetary Orbit For Fomalhaut B

NASA, ESA Telescopes Find Evidence for Asteroid Belt Around Vega

Kepler Gets a Little Help From Its Friends

CAR TECH
Study reveals ordinary glass's extraordinary properties

Bottom-up approach provides first characterization of pyroelectric nanomaterials

Chemical modules that mimic predator-prey and other behaviors

Government funding for 'super-material'




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement