Auto companies are expected to have sold 14.5 million new cars in 2012, a 13 percent increase from the previous year. The industry accounted for nearly 30 percent of all economic growth in the United States during the first half of 2012. However, domestic car companies saw much smaller increases in sales than their foreign competitors.
General Motors, the largest U.S. automaker and the recipient of a federal bailout, saw year-to-date sales increase by only 3.5 percent from 2011 to 2012, the Wall Street Journal reports. Ford Motors saw sales increase by five percent. Chrysler grew much faster than its domestic competitors, at 21.8 percent. GM saw its market share fall from 19.7 percent to 17.9 percent and Ford’s fell from 16.8 percent to 15.5 percent. Only Chrysler saw its market share increase, going from 10.7 percent to 11.4 percent.
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Toyota saw its sales increase by 28.8 percent, remaining the third largest U.S. auto company by sales. Honda saw sales rise by 23.8 percent. Both companies expanded their market share: Toyota increased from 12.7 percent to 14.4 percent while Honda increased from nine percent to 9.8 percent. The German automaker Volkswagen saw one of the largest increases in sales, at 35 percent, increasing their market share to three percent.