2012 looks good for auto industry

2012 outlook looks strong for automotive industry A General Motors Wentzville Assembly Plant employee works on tthe assembly line Thursday, November 3, 2011 in Wentzville, Missouri.

Industrial Info Resources research predicts first time all three U.S. auto makers show profit since 2004

A little less than three years ago, the automotive sector was in a state of chaos.

Two of the three U.S. automakers were facing bankruptcies, and the lone holdout, Ford Motor Company (NYSE:F) (Dearborn, Michigan) was barely managing to keep its head above water.

Meanwhile, the foreign automakers were dominating the North American markets, threatening to drive at least one of the U.S. automakers out of business completely and relegating the others to second-class status.

What a difference a couple of years can make! Entering 2012, the automotive sector is poised to have one of the most successful years ever, an amazing turnaround in a very short period of time.

For the first time since 2004, all three American automakers are expected to show an annual profit when the final numbers for 2011 are released in a few weeks.

Considering that both General Motors Company (NYSE:GM) (Detroit, Michigan) and the Chrysler Group LLC (Auburn Hills, Michigan) had to proceed through bankruptcy and accept massive government bailouts only two years before, the fact that they are going to show a profit is little short of miraculous.

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