The North American International Auto Show that recently opened to the press in Detroit, displayed a renewed confidence in the auto industry as well as an unprecedented focus on fuel economy numbers, as it appears to be the biggest motor show in years with all of the major domestic and foreign players back onboard.
After making it through the worst recession in memory, the .U.S. auto industry’s biggest show is reflecting that Detroit may be back in business, but it won’t be business as usual as the industry has changed and fuel economy is now the number one story. The 2012 show is now larger and flashier than it has been in recent years as Ford, Chrysler and General Motors all rang-up double-digit sales growth last year. Sales in the U.S. rose to 12.8 million vehicles last year, a 10.3% increase over the year prior and the highest number since 2008 when both Chrysler and GM had to be bailed out by US taxpayers at the height of the recession. All three U.S automakers are pinning most of their hopes for success on a slew of new hybrid electric vehicles.
Japanese automaker Nissan rejoined its rivals at the show after a three-year absence, and luxury brands BMW, Lexus and Mercedes also debuted new hybrids in their lineups, underscoring the new importance of fuel mileage numbers. The entire auto industry seems more optimistic than it has been in years, although there has been a noticeable shift toward better fuel economy. After weathering three of the worst years in U.S. auto market history, Detroit’s Big Three are hoping their latest offerings will hit the mark with today’s cautious consumers. As Reid Bigland, the head of Dodge brand, said: “We are thoroughly thankful for the second chance we have been given. We have been through hell and we don’t need to go back.”
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