Several macroeconomics factors have contributed to the increase in sales of American manufacturers. Chrysler Automobiles and Ford (NYSE: F) have reported that their domestic sales have reached at least 9 years highs.
According to the Chrysler, their total U.S sales are estimated to be 1.7 million in 2015, which is an increase of 7%. Ford also at a decade best performance, of 2.6 million cars sold in 2015, which is a 5% increase in a year. Of course General Motors, the undisputed sales champion, sold 3.1 million vehicles last year, which is also an increase of 5%.
Available credit, low interest rates and most importantly for the average American driver – low gas prices, have all contributed to the dramatic increase in sales.
According to Edmunds.com, an online resource for automotive information, total vehicle sales for the auto industry in the United States for the year of 2015 are about 17.5 million. If this estimate is accurate, 2015 is the best year for the industry in history, breaking the previous record of 17.35 million new vehicles which was set in the year 2000.
The director of industry analysis for Edmunds pointed out, “It’s truly remarkable that the auto industry is finishing off its best year ever just six years after the depths of the Great Recession.”