There are about 11.6 million car sales in the year 2010 in USA and the automakers are expecting a million more sales in 2011. For this they are targeting the younger buyers because the people in these age are very much fond of cars and the automakers are found targeting them to increase their sales.
But the main problems for the automakers are the rise in the oil prices and the GM says that the gas prices could top $4 a gallon this year. The amount of sales also depends on the number of jobs created in different industries, easier credit and a continued flow of attractive and affordable vehicles. Although unemployment begins to fall, people still have less disposable income, in the great middle of the market. The consumer are looking for the cars which are economical.
Although gas prices are raised the truck sales went to 18 percent and as well the sales of the cars also increased in the year2010. The lenders are also found to be taking reasonable risks. Auto loan approval rates for consumers with FICO scores from 620 to 749 are seen to be recovered to 85-90 percent range from 75 percent in late 2009, according to CNW Marketing.
To satisfy the consumers and to protect them from the higher gas prices, automakers are introducing lot of hybrids in to the market which uses electricity as the fuel. Many leading automakers released their hybrids like Chevrolet Volt, Nissan Leaf, Prius V, Ford Focus EV, Fiat 500 and the Chevrolet Sonic etc., This shows that the industry is serious about taking fuel economy to a higher level.