(The Associated Press)
Detroit carmakers all gain market share
This year, for the first time since 1988, all three Detroit automakers have gained market share in the U.S. Through November, General Motors, Ford and Chrysler captured 47.2 percent of combined market share, up from 45.1 percent for the same period in 2010, according to Autodata. Chrysler had a banner year, with a 25 percent sales increase for the first 11 months of the year, more than double the industry's 10.4 percent growth. A tragic, but large, contributing factor to the Big Three's gains was last March's earthquake and tsunami in Japan, which caused a shortage of cars and trucks. Toyota and Honda are just beginning to recover from the disaster.
— Detroit Free Press
(The Associated Press)
Gas spending record continues to grow
Last week American drivers broke a record that will bring them no joy. They collectively spent more than $448 billion on gasoline since the beginning of the year, according to the Oil Price Information Service, putting the previous record for gas expenditures -- set in 2008 -- in the rear-view mirror with a week of driving still to go. It's also a huge jump over last year, when U.S. drivers spent more than $100 billion less on gas. The major reason for the record-setting spending in 2011 was that oil prices were consistently high all year.
— Los Angeles Times
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