Detroit Auto Show 2012 is hogging the limelight. The auto show is taking place when the car and automobile market in the US and North America is showing the signs of revival with surging demands and huge profits that the car markets are showing in the recent past.
The demand for cars and bikes has risen significantly in recent months. Car sales are one of the first snapshots of increasing US consumer demand. The significant rise in auto sales stands as the latest in a string of indicators including strong job market performance pointing towards growing confidence in the turnaround in the US economy.
Several leading US carmakers have said that they are expecting higher demands in the new year. The estimates for auto industry growth vary from four to nine percent. The top three US carmakers besides Japanese and Korean carmakers including Toyota and Hyundai are bullish about the surge in US demand. Tom Libby an expert of auto industry says, â€œWe see an exceptionally competitive market because there are now eight major manufacturers vying for shareâ€.
Meanwhile another positive aspect for the Detroit automakers has been the rise in sales of trucks in recent months, including the pickup trucks used heavily in construction and by other small business owners.
In the meantime Hyundai Elantra has won car of the year award at Detroit auto show that is set to be opened for public on January 14. The people who chose the winner were fifty journalists covering automobile market. The other cars that were vying for the coveted award included Volkswagen Passat and Ford Focus.
Meanwhile a report while detailing the apparent signs of recovery in the US car market at the time of the North American International Auto Show says, â€œâ€¦massive two-story video screens, dozens of futuristic concept and previously unseen vehicles and thousands of car parts suppliers and vendorsâ€.