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U.S. Light Vehicle Sales Jumped 13% in 2012
Automakers sold 14.49 million cars and light trucks in America last year compared with 12.78 million units in 2011, Autodata Corp. reports.
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Automakers sold 14.49 million cars and light trucks in America last year compared with 12.78 million units in 2011, Autodata Corp. reports.
Analysts attribute last year's volume gain to pent-up demand, a stronger economy, rising consumer confidence, low-interest loans and easier access to credit. The domestic brands of Chrysler and Ford reached five-year sales highs, and General Motors had its best year since 2008.
U.S. marques boosted full-year volume 8% from 2011 to 6.4 million vehicles, buoyed by Chrysler's 19% surge to 1.6 million units. Demand grew 4% to 2.6 million units at GM and 5% to 2.2 million units at Ford.
But Detroit's market share slid 2.4 points year over year to 44.5% in 2012 as Asian brands picked up 1.9 points to reach 45.6%. Most of that share gain came from a U.S. sales rebound at Toyota (+27% to 2.1 million vehicles) and Honda (+24% to 1.4 million units) from natural-disaster-plagued 2011.
Hyundai and Kia hiked American volume 9% to 703,000 vehicles and 15% to 557,600 units, respectively. Subaru set its fourth straight annual sales record in 2012 with a 26% advance to 336,400 vehicles.
Demand for European makes soared 21% to 1.4 million vehicles last year, lifting their U.S. market share 0.6 points to 9.9%. Sales of Volkswagen brand vehicles surged 35% to 438,100 units.
Europe's luxury car marques also posted big gains in American sales in 2012, including BMW (+14% to a record 281,500 vehicles), Mercedes-Benz (+12% to 274,100 units) and Audi (+19% to 139,300 units).
Gasoline prices averaged a record-high $3.60 per gallon in 2012, propelling U.S. demand for fuel-efficient small cars 27% to 2.8 million units. Total passenger car sales jumped 19% to 7.4 million units.
Truck volume climbed 8% to 7.1 million units last year. Analysts opine that recovering home construction helped boost sales of fullsize pickup trucks 9% to 1.6 million units. Ford's F-Series big pickup remained America's top-selling vehicle for the 31st consecutive year with a 10% increase to 645,300 units.