Auto Industry Thrives Beyond Detroit

Detroit, the city, just entered bankruptcy. A few short years ago, much of "Detroit," another name for the auto manufacturing industry, also entered bankruptcy. Yet, despite these upheavals, the American auto industry is doing quite well. General Motors (GM), Ford (F) and Chrysler (majority owned by Fiat, FIATY) have made surprisingly strong recoveries from the Great Recession when they, particularly GM and Chrysler, were near death. According to Bloomberg, industry sales are on a pace to be the best this year since 2007.

But the big, well-known automakers are not the only ones enjoying the fruits of the industry's revival. Firms related to the auto industry are also experiencing solid growth, including Asbury Automotive Group (ABG), which operates 98 auto franchises at 77 dealership locations in 10 states. It sells and services 29 brands of automobiles, with imports generating over 85% of sales. It has some competitive advantages including its size, track record of growth through acquisition and an emphasis on luxury and imported autos....384 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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