After several tumultuous years, all three Detroit automakers are expected to emerge from 2011 as profitable companies. The last time General Motors, Ford and Chrysler were all in the black was 2004.
According to early forecasts, GM is expected to post a $6.1 billion profit for 2011, marking a 26 percent improvement over 2010. Ford is expected to post even better results, with most analysts calling for at least $7 billion in profits.
Profits will be less for Chrysler, but simply ending 2011 in the black is an important step for the Auburn Hills-based automaker. Chrysler was nearly forced into liquidation in 2009 after several years of mismanagement under Daimler and Cerberus Capital Management.
“In terms of profitability and outlook, this is the best conditions we’ve had for the U.S. auto industry in a long, long time,” said Jesse Toprak of TrueCar.
In addition to profitability, the U.S. automakers were also able to gain market share in 2011. Overall the Detroit Three accounted for 47.1 percent of the U.S. market last year, up from 45.2 percent in 2010.
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1.’Detroit automakers are…’ view
