03 May '11, 8pm

Detroit Automakers' Sales Turnaround Due in Part to Fuel Efficiency

Detroit Automakers' Sales Turnaround Due in Part to Fuel Efficiency

In the last two weeks, Ford, General Motors and Chrysler have all released positive earnings reports, with Ford boasting its biggest profits in more than a decade and Chrysler posting its first profit in five years. Among the drivers behind this shift: A renewed focus on fuel efficiency and building smaller cars, two factors that have helped the American automakers increase their sales and weather rising gas prices. "With the fuel prices moving up, we now have the vehicles that people want," Ford CEO Alan Mulally told Bloomberg . "The largest vehicles are slowing down a little bit, but all these smaller ones from Ford are now available." The Ford Fiesta (pictured at left) subcompact car is one of the new, smaller vehicles that has helped earn Ford $2.55 billion in profits in the first quarter of 2011. General Motors too saw big sales of small cars: Its Cruze economy car wa...

Full article: http://www.greenbiz.com/news/2011/05/03/detroit-automaker...

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