Detroit Three had a great 2015
Posted on Monday, January 11, 2016 at 1:13:03 PM
As far as auto industry success stories go, the tale of the Detroit Three must be among the best. After the tumultuous days of 2009-10, the Michigan auto giants have come roaring back. Detroit Free Press reported that, driven by falling gas prices and low interest rates, American automakers had one of their best years ever in 2015.
Fiat Chrysler sales rose 7 percent last year, according to the Washington Post, resulting in its highest vehicle sales since 2005, while Ford reported its best year since 2006. General Motors, meanwhile, saw a 5 percent bump in sales from 2014, selling almost 3.1 million vehicles as drivers embraced auto financing to purchase new cars and light trucks.
It isn't just that 2015 was great for American automakers. The industry was actually healthier last year than it was the last time auto sales were this strong, back in 2000. At that time, the Detroit Three were seeing their market share fall. Now, the U.S. economy is on an upswing and the Michigan automakers' market share remains steady.
Since 2005, when the average new car went for $27,655, transaction prices have jumped 20 percent. New cars now go for an average of almost $33,200.