U.S. Auto Industry Recovering, But Toyota Is Leading The Market
The first quarter of this year was a period in which car and truck sales continued to rise in The United States, due to the low oil, and oil derivative, prices. This will strengthen the United States auto makers’ bottom line.
Toyota, the fierce rival of the American Detroit based automobile industry, has pressured the domestic companies in the first quarter of 2015. The “Detroit Three” are still not certain to fully recover, as Toyota is raising its market share with truck and luxury vehicles high sales rate. The industry has recorded mixed data in March, because of the difficult year-over-year comparison and the calendar impact. The automobile industry continues to rise, as annual sales ratio was 16.9 million in the previous month, indicating a high rate, having the season adjustments in mind.
General Motors Company’s sales of Cadillac Escalades and Chevrolet Suburbans was almost doubled compared with the opening quarter of 2014, with the price averaging around 35.200 U.S. dollars, 1.200 dollars more than last year. Ford Motor Company recorded that the industry volume rose around 5% in the first three months of this year, due to a significant raise in luxury car, SU vehicle and truck market demand. The new light vehicles industry transaction prices rose 3.5%, adding up to 33.280 U.S. dollars in March, sad Kelley Blue Book, info provider for the industry.
The catastrophic auto industry in South America, together with weak European finances and the sluggish market in China were to some extent alleviated by the big profits in North America, and the rise in profits for the Detroit Three is expected to continue in the new quarter. However, Toyota led the auto industry with 4.5% jump in March sales compared to the same month in 2014, with 225.959 cars sold.