Things are looking up for US car manufacturers
All three major car manufacturers in the US posted profits last quarter. Chrysler, posted a profit of $143 million for the first quarter of 2010, GM posted a profit of $865 million, and Ford posted a profit of $2.1 billion. This is the best sign I’ve seen that the economy as a whole is recovering. While those numbers seem like Ford is blowing the other two out of the water, one difference is that they did not seek Chapter 11 protection, and so are still basically operating as they did several years ago with billions in debt.
In my opinion Ford is showing the most promise with upcoming models though, and I expect them to remain on top. Chrysler/Fiat I think will be the surprise next year. The Fiat 500 is the new Mini. I’ve seen them all over the place in Europe, and they scream fashion…. now if only you can keep it running.