NEW YORK (CNNMoney) -- All three U.S. automakers are on track to be profitable in 2011 when they report results in the coming weeks. That's something that hasn't happened since 2004.
General Motors (GM, Fortune 500) is expected to post a 26% rise in profits to about $6.1 billion.
Ford's (F, Fortune 500) profit is expected to come in at about $7 billion, up from the $6.6 billion it made in 2010, which was the automaker's best performance since 1999.
And after posting a loss last year Chrysler says it will swing to a profit. The company is in the midst of an amazing turnaround, especially considering that during its darkest days the company seemed doomed to disappear. (The comeback of the American car)
And there's hope for the future because even better profits may lay ahead.
Good times are here again? Analysts are in widespread agreement in forecasting better industrywide sales in 2012 and beyond. They see sales rising from 12.8 million in 2011 to between 13.5 million to 14 million this year and close to 15 million by 2014 or 2015.
"In terms of profitability and outlook, this is the best conditions we've had for the U.S. auto industry in a long, long time," said Jesse Toprak of TrueCar.
Detroit automakers are (finally!) making profits - Jan. 5, 2012
General Motors (GM, Fortune 500) is expected to post a 26% rise in profits to about $6.1 billion.
Ford's (F, Fortune 500) profit is expected to come in at about $7 billion, up from the $6.6 billion it made in 2010, which was the automaker's best performance since 1999.
And after posting a loss last year Chrysler says it will swing to a profit. The company is in the midst of an amazing turnaround, especially considering that during its darkest days the company seemed doomed to disappear. (The comeback of the American car)
And there's hope for the future because even better profits may lay ahead.
Good times are here again? Analysts are in widespread agreement in forecasting better industrywide sales in 2012 and beyond. They see sales rising from 12.8 million in 2011 to between 13.5 million to 14 million this year and close to 15 million by 2014 or 2015.
"In terms of profitability and outlook, this is the best conditions we've had for the U.S. auto industry in a long, long time," said Jesse Toprak of TrueCar.
Detroit automakers are (finally!) making profits - Jan. 5, 2012
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