U.S. car sales rose 13.4% to hit 5-year high
U.S. car sales rose by 13.4% in 2012, making it the best year for the industry since 2007, industry figures showed. General Motors sold the largest number of cars and light trucks, 2.5 million for the year. Total revenue for the industry amounted to 14.5 million.
Japanese automakers recovering from supply chain disruptions in 2011 taking more market share.
Higher sales in the U.S. in 2012 were driven by the improving economy and the increased availability of credit.
Volkswagen saw the biggest jump in sales, an increase of 35%. Toyota Motor sales increased by 27%, while Honda posted a 24% increase.
General Motors (GM) predicted more modest turnover of 15 to 15.5 million in the coming year.
"Strong finish of GM in 2012, the industry momentum and overall health of the U.S. economy us optimistic about 2013," says sales chief at GM Kurt McNeil.
Sales of GM rose by 3.7% in 2012. But that level of growth meant GM lost market share to 17.9% compared to 19.6% in 2011.
In contrast, Toyota and Honda saw its market share rise sharply from last year, when they suffer major supply chain disruptions after the earthquake and tsunami in Japan.
Toyota said in 2012 had a turnover of nearly 2.1 million and its market share rose by 1.5 percentage points to 14.4%.
"If we are in 2013 and the market sees further growth, we expect the industry to outperform again with another nine product launches on the horizon," said Jim Lentz, head of Toyota Motor Sales in the U.S..
U.S. car sales rose by 13.4% in 2012, making it the best year for the industry since 2007, industry figures showed. General Motors sold the largest number of cars and light trucks, 2.5 million for the year. Total revenue for the industry amounted to 14.5 million.
Japanese automakers recovering from supply chain disruptions in 2011 taking more market share.
Higher sales in the U.S. in 2012 were driven by the improving economy and the increased availability of credit.
Volkswagen saw the biggest jump in sales, an increase of 35%. Toyota Motor sales increased by 27%, while Honda posted a 24% increase.
General Motors (GM) predicted more modest turnover of 15 to 15.5 million in the coming year.
"Strong finish of GM in 2012, the industry momentum and overall health of the U.S. economy us optimistic about 2013," says sales chief at GM Kurt McNeil.
Sales of GM rose by 3.7% in 2012. But that level of growth meant GM lost market share to 17.9% compared to 19.6% in 2011.
In contrast, Toyota and Honda saw its market share rise sharply from last year, when they suffer major supply chain disruptions after the earthquake and tsunami in Japan.
Toyota said in 2012 had a turnover of nearly 2.1 million and its market share rose by 1.5 percentage points to 14.4%.
"If we are in 2013 and the market sees further growth, we expect the industry to outperform again with another nine product launches on the horizon," said Jim Lentz, head of Toyota Motor Sales in the U.S..
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