The Big Three's Dramatic U-Turn
But the Big Three are making a comeback. The group gained market share in both 2010 and 2011, marking the first time since 1992-1993 of two consecutive annual gains for the Big Three. The 1.71% increase in 2011 to a 46.2% market share from 44.5% in 2010 was the largest single year gain since a 3.2% gain in 1988. All three companies posted solid sales gains in 2011, led by Chrysler at 26.1% and followed by GM at 13.2% and Ford at 10.8%.
Production, sales, profits and hiring are now improving significantly for the Big Three and the American automakers are back in the fast lane again, as CBS Sunday Morning reported today on a feature titled "The Big Three's Dramatic U-Turn."
Related: The Detroit Free Press reported this week that Michigan's unemployment fell to 9.3% in December, the lowest state jobless rate since September 2008, and there was positive net job growth in Michigan last year for the first time since 2000.