It has also been beset by rising inflation in China, which is forcing the government to continue its monetary tightening policy which is impacting the auto-sales growth.
But higher fuel prices will hurt auto sales--particularly sales of big vehicles.
Chinese auto sales -- which surged to 35% in 2010 -- showed signs of cooling in the first quarter of this year with just 2% growth.
The failing economy, tightening credit and evaporating new-car sales counter-punched the auto industry late in 2008, leaving Chrysler and General Motors on the ropes and in need of immediate financial CPR.
Silberg said his take on the results is that the car companies and related industries are realizing how important auto lending is going to be in China once auto sales become a truly mass-market phenomenon.
It achieves multiple goals -- it stimulates auto sales, increases the efficiency of the U.S. fleet and makes us safer.
Forecasts for full-year 2012 auto sales average out at around 14.5 million cars and trucks, up 13 percent from around 12.8 million in 2011.
Tuesday auto-makers will report their sales for the last month.
Leaf springs, its high-volume product that accounts for 67% of its auto parts sales, are fairly simple, low-capital-intensive suspension components.
Auto sales would decline, from the strong 14 million-unit sales pace expected in the baseline case to 13.6 million this year and 12.9 million in 2013.
FORBES: Double-Dip Recession 20% To 25% Likely If Fiscal Cliff Hits, S&P Warns
The last thing -- 12 months ago auto sales were at their lowest point since 1970.
Chery has been building cars for just eight years but is already China's fourth-largest auto manufacturer, with sales of 300, 000 vehicles in 50 countries last year, and plans to sell 1 million cars a year by 2010.
When October auto sales are released next week, sales of traditional, truck-based SUVs will likely look downright robust compared to sales in October of last year.
Excluding auto sales, total retail sales grew by 8.8% year-over-year.
FORBES: April U.S. Retail Sales Up 8.8% - Highest YOY Growth Since May 2006
Further, she said, the rise in U.S. auto sales probably comes from pent-up demand and inventory building.
FORBES: FOCUS: Platinum-Gold Spread Narrows, But Gold Remains At Premium
And auto sales, fueled by zero-percent financing offered by manufacturers, are surging and could even hit a record this month.
Corning's close relationship with Detroit, growing from its business of making automobile headlamps, has led to sales of ceramics for auto-emission-control devices.
Unemployment continues to fall, housing starts continue to climb, auto sales have rebounded to pre-recession highs, and inflation and interest rates remain low.
They're the fastest-growing category of new auto sales in the country.
What that means is, even after three years of double-digit improvement, 2012 auto sales will still be nearly 1.8 million below 2007, when sales were 16.2 million.
Bradshaw says Ford is a good long-term buy now as auto sales could ramp up back to historical levels after dropping off sharply during the financial crisis and recession.
FORBES: 2 Most Important Companies Reporting Earnings This Week
The problem extends beyond Brazil, with economic forecasts showing the majority of global growth in auto sales taking place in emerging-market nations as the world's auto fleet doubles to 1.5 billion by 2020.
Airplane sales plummeted, the yacht-building industry nearly cratered, jewelry and fur sales lagged, and the auto industry closed dozens of high-end dealerships.
FORBES: New Deficit Solution? If It's Expensive, Tax It More
German auto-giant Volkswagen reported on Monday that its sales rose 11% last year.
And auto executives said the strength in new-car sales is coast to coast.
When the problem-plagued auto industry was excluded, retail sales still fell by 2.2%, nearly twice the 1.2% analysts had expected.
Auto makers reported the pace of new-car sales slowed in April.
New-car sales in the 27-member European Union are in the ditch, auto workers are fighting for their jobs and expectations of any relief this year have been wiped away like fingerprints on the glossy paint of the show's stars.
Sales of its auto parts, two-thirds of which are exported, have doubled over the last five years.
应用推荐