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DETROIT, Jan. 3, 2013 (AP): It's not quite boom times for the
U.S. auto industry. But it's getting there.
Sales of new cars and trucks are likely to reach 14.5 million
for 2012. And if they climb much beyond that, they'll be closing
in on a high set in 2005.
Cheap loans, a host of new cars and greater confidence in the
economy are drawing buyers into showrooms. Plus, Americans who
hung on to aging cars during the recession are ready to trade
them in.
Here are the highlights and lowlights of 2012, and what's coming
from the industry in 2013:
WINNERS
Volkswagen saw a 35-percent jump in sales in 2012, one of the
biggest increases in the industry. The new Passat midsize car
was the driver, with sales up 413 percent over 2011. Chrysler's
sales jumped 21 percent thanks to strong sales of the Dodge
Caravan minivan and the Jeep Grand Cherokee SUV.
LOSERS
Both General Motors and Ford gained sales in 2011 when the
earthquake hurt their Japanese competitors. But the Japanese
snatched those sales back in 2012, and GM and Ford lagged behind
the industry. GM saw a 4 percent sales increase for the year,
hurt by weak truck and Cadillac sales. Ford's sales were up 5
percent after new versions of some of its biggest sellers _ the
Ford Escape SUV and Fusion sedan _ had to be recalled for safety
problems. But they still had plenty of bright spots. Car and SUV
sales were solid. New models like the Ford C-Max hybrid and the
Buick Verano small car were well received.
WELCOME BACK, JAPAN
Those who wrote off Japanese carmakers after Toyota's recalls in
2010 and earthquake-related car shortages in 2011 were wrong.
Japanese companies, who struggled after the earthquake, got
their U.S. supplies back to normal in the first few months of
2012 and never looked back. Toyota's U.S. sales rose 28 percent
and the Camry sedan had its best year since 2008. Honda's sales
rose 24 percent.
HOT CARS
The Chevrolet Sonic, GM's first really competitive small car,
quickly became the best-selling subcompact in the U.S. last
year. Sales hit 81,247. Sales of the Volkswagen Beetle surged
400 percent to 28,654 after a more aggressive, masculine design
hit showrooms. The latest version of the Honda CR-V, a favorite
family hauler, set an annual sales record of 281,652. The Toyota
Prius jumped 73 percent to 236,659 thanks to new wagon,
subcompact and plug-in versions.
SLOW STARTERS
The new Dodge Dart, a compact that was rolled out with much
fanfare last summer, didn't start gaining momentum until the end
of the year. December sales were 6,105, or more than double
those in August, but still just a fraction of competitors like
the Chevrolet Cruze. Sales of the new Chevrolet Malibu were up
just 3 percent in 2012. The new Nissan Altima, which has a more
dramatic design and a host of advanced features like a lane
departure warning system, has struggled in a crowded market.
Altima sales were flat or down for three of the last four months
of 2012.
THINKING SMALL
Small cars were big sellers as gas reached $3.60 per gallon,
which AAA said was the most expensive annual average on record.
The Ford Focus compact jumped more than 40 percent and outsold
Ford's midsize Fusion. Honda Civic sales jumped 44 percent and
nearly outsold the Accord. Sales of the Fiat 500 mini car more
than doubled.
PICKUPS PICK UP
After four years of lackluster sales, big pickups started to
gain traction late in the year. Home construction began to
recover. That directly affects pickup sales because builders
feel more confident and replace old trucks. Those trucks needed
replacing; the average U.S. pickup is more than 11 years old.
Sales of Ford's F-Series rose 10 percent for the year. Chrysler
Ram sales rose 20 percent, and the Toyota Tundra was up 23
percent. Jesse Toprak, vice president of industry trends for the
TrueCar.com auto pricing site, said businesses buy trucks when
they see new ones on the road.
``When a couple of businesses buy, other businesses see this as
a `go' sign,'' he said.
POWER OUTAGE
Electric cars continued to struggle because of high price tags
and worries about a lack of places to charge up batteries. GM
cut production of the Chevrolet Volt in the spring and later
began offering big discounts to juice sales. The Volt ended 2012
with total sales of 23,461, which was triple its sales in 2011.
But the electric Nissan Leaf was up just 1.5 percent to 9,819,
far short of Nissan's goal of selling 20,000 Leafs in the U.S.
in 2012.
FISCAL CLIFF
Carmakers don't expect the tax increase on people making more
than $400,000 a year to impact sales. Ford's chief economist
says only 2 percent of new-vehicle buyers are in the top tax
bracket. Audi of America President Scott Keogh says the increase
won't cut disposable income enough to hurt luxury sales. He says
the average income of an Audi buyer is about $191,000, not in
the status-conscious top tax bracket. ``We are not what I would
call a frivolous, over-the-top vanity purchase,'' he said.
RISING STOCKS
GM and Ford investors had a happy finish to 2012. Ford's stock
price is trading at more than $13, up 22 percent over the past
year. It has climbed steadily since October, when the company
announced an overhaul of its struggling European operations.
GM's stock price has jumped 42 percent in the past year and is
now nearly $30. The carmaker turned a strong profit over the
summer. It also restructured in Europe and has started buying
back the government's stake in the company.
LOOKING AHEAD
There's cause for optimism this year because of employment,
housing and consumer confidence gains, said Jesse Toprak, vice
president of industry trends for the TrueCar.com auto pricing
site. Interest rates remain low. Fierce competition is holding
car prices in check. And many people simply need to replace
their cars, whether they were destroyed by Superstorm Sandy or
because they're just getting too old. Toprak predicts that
Americans will buy a million more cars this year than they did
in 2012. Ford thinks sales could reach 16 million. The most
recent high set in 2005 was nearly 17 million.
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