Volkswagen of America Inc. today reported that 2011 sales were the best in nine years, helped by an strong increase in sales of the Chattanooga-built Passat.
Total VW sales in the Unites States last year were 324,402 units, a 26.3 percent increase from 2010 and the best since 2002, the company announced.
Passat sales soared in 2011 with 22,779 units sold, a 124 percent increase from 2010.
Among the interesting bits of news in the spring economic forecast released today by the University of Tennessee is this: Car shopping is hot.
Wow. Who would have thought car dealers would rescue the economy.
Taxable sales in Tennessee will see strong growth this year and auto “sales will be a major driver with fiscal year growth of 12.6 percent. On a calendar year basis, sales are expected to advance 4.8 percent in 2011. Automobile sales, along with purchases from manufacturers, will show the largest gains over 2010.,” says the spring 2011 Tennessee Business and Economic Outlook produced by the UT Center for Business and Economic Research.
It’s way too early to pass judgement on General Motors return to the stock market, but that isn’t stopping analysts, politicians and others from having their say.
Here’s a sampling of what’s being said, including a video from the White House blog. So far, most of the chatter has been positive, but what will the experts be saying a year from now?
White House White Board: The Rebirth of the American Auto Industry
SmartMoney: The General Motors Bait-and-Switch
Barron’s: The Other Way to Play GM
MarketWatch: GM shares retreat some from re-entry gains
MarketBeat – WSJ.com: GM Stock: Trading but whtih training wheels
Photo: (AP Photo/Paul Sancya, file) In this file photo taken Thursday, Nov. 18, 2010, General Motors headquarters are shown in Detroit. Shares of the reborn General Motors lost momentum in early trading Friday, Nov. 19.
A story in today’s Chattanooga Times Free Press says Volkswagen will encourage all suppliers for its new Chattanooga plant to locate within 30 miles of the soon-to-open factory.
Since Knoxville is about 100 miles from the VW plant, the 30-mile limit would seem to spell
trouble for Knoxville-area economic development officials’ effort to recruit VW suppliers.
But Knoxville Chamber officials say they aren’t worried.
Cadillac owners beware. The Escalade SUV is once again the car most likely to be stolen, according to the Highway Loss Data Institute, part of the Arlington, Va.-based Insurance Institute for Highway Safety.
Also tops on car thieves’ must-have list: Ford F-250 crew pickup, Infiniti G37 luxury car, and Dodge Charger with a HEMI engine
“Theft rates for these vehicles are 3 to 5 times as high as the average for all vehicles,” HLDI reported.
Cars most likely NOT to be stolen: Volvo S80, Nissan Murano, Saturn Vue, Honda Pilot and Subaru Impreza.
Highway Loss Data Institute press release.
Photo: Cadillac Escalade/ 2008 Associated Press
Volkswagen’s new plant nearing completion in Chattanooga is the subject of a favorable report on Forbes.com.
“The German carmaker is halfway through building one of the world’s cleanest automobile plants,” says the story by Jim Motavalli.
Read full VW story here.
Not so favorable, is the accompanying report on the Leaf, Nissan’s new electric car being built in Rutherford County, Tennessee.
“Turns out it might not be so green for its bottom line,” writes Josh Wolfe.
Read the Leaf report here
Photo: Angela Lewis/ Chattanooga Times Free Press.