A slowdown in job growth is seen in southeast Michigan by Comerica Bank as auto sales are leveling off.
Chrysler sales are up 10 percent; General Motors up 5 percent, and Ford sales are flat.
Problems in Europe took a big bite out of GM’s second quarter earnings, but not quite as much as analysts expected.
Chrysler today reported a second-quarter net income of $436 million, a more than $800 million turnaround from a year ago, when the automaker paid off the last of its government bailout loans.
All three domestic car companies posted double-digit sales increases in May. There are also signs that the Japanese carmakers are rebounding from last year’s earthquake and tsunami.
Have they got a car for you! There are at least 67 used car dealerships along the 8 Mile Road corridor.
General Motors improved its earnings in North America, making $1.7 billion in its home market.
All three domestic car companies are reporting strong sales for March, as we could end up seeing the best sales month since August of 2007.
GM sold just over 9 million vehicles in 2011. That’s 11 percent more than Volkswagen, which sold 8.1 million.
Chrysler 2011 sales are up 26 percent over 2010. GM sales are up 14 percent. Ford sales up 11 percent. Industry expected to be up 10 percent.