Route 66 is the place to be. Even China’s Route G6 will do. European carmakers need to be anywhere but home, where sales are going one way: down. No wonder Fiat’s boss Sergio Marchionne wants to buy a further 6 per cent of Chrysler, lifting its stake to 65 per cent. Sales at the smallest US carmaker are a fifth higher than a year ago, growing at more than four times the clip of Ford and General Motors. Just as well: Fiat needs to compensate for depressed European markets.
But Mr Marchionne’s interest also reflects how far US carmakers have come since their government-led, post-crisis restructuring. US car sales grew more than 13 per cent last year, their fastest clip in more than 20 years. Even so, sales of foreign cars are growing faster than at the two big locals.
Toyota’s rose at almost five times the pace of Ford’s in December, and nearly double those of GM. And BMW, Lexus and Mercedes-Benz are eating the lunch of the US’s luxury carmakers. Overall, car and light vehicle unit volumes in the US could increase 5 per cent in 2013, ahead of Korea, yet still only half the pace of China.