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Automobile industry

Detroit's Big Three Auto Makers Post Higher Sales in 1993

Strategic Insights

— 2 min read

Detroit's Big Three auto makers, led by a 24.5-per-cent gain at Chrysler Corp., posted higher car and truck sales in 1993, contributing to an estimated 14.2 million vehicles sold in the United States, up from about 13.1 million in 1992. The rise in sales came despite Japanese auto makers, such as Toyota Motor Co. and American Honda Motor Co., experiencing mixed results. A surge in the value of the yen forced Japanese makers to raise U.S. prices by about 11 per cent, making Detroit models more attractive to buyers. Chrysler's new mid-sized and luxury LH sedans played a significant role in the company's sales increase, while General Motors Corp.'s sales of domestically made cars rose 3.7 per cent and Ford Motor Co.'s U.S. car sales increased 6.4 per cent.

Key Takeaways:

  • Chrysler Corp. led the Big Three with a 24.5-per-cent gain in U.S. car sales to 766,144 in 1993.
  • General Motors Corp. reported a 3.7-per-cent increase in sales of its domestically made cars to 2.85 million.
  • Ford Motor Co.'s U.S. car sales rose 6.4 per cent to almost 1.84 million, with its Taurus sedan remaining the best-selling car in the United States.
  • All three Detroit auto makers reported double-digit gains in truck sales, with Chrysler's U.S. truck sales increasing 18.3 per cent to over 1.2 million.
  • Sales of GM's domestically made trucks increased 13.2 per cent to 1.75 million, while Ford's truck sales rose 19.4 per cent to 1.68 million.
  • The estimated U.S. sales figure for 1993 was 14.2 million vehicles, up from about 13.1 million in 1992.
  • Japanese auto makers, such as Toyota Motor Co. and American Honda Motor Co., experienced mixed results due to a rise in the value of the yen, leading to higher prices for U.S. buyers.

Statistics:

  • 24.5 per cent: Increase in Chrysler Corp.'s U.S. car sales in 1993.
  • 3.7 per cent: Increase in General Motors Corp.'s sales of domestically made cars to 2.85 million.
  • 6.4 per cent: Increase in Ford Motor Co.'s U.S. car sales to almost 1.84 million.
  • 14.2 million: Estimated U.S. vehicle sales in 1993.
  • 13.1 million: U.S. vehicle sales in 1992.
  • 18.3 per cent: Increase in Chrysler's U.S. truck sales to over 1.2 million.
  • 13.2 per cent: Increase in GM's domestically made truck sales to 1.75 million.
  • 19.4 per cent: Increase in Ford's truck sales to 1.68 million.
  • 11 per cent: Rise in the value of the yen, leading to higher U.S. prices for Japanese auto makers.

Sources:

  • Bloomberg Business News, Detroit

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