#GreatRecession

The Pontiac Grand Prix was a long-term staple in Pontiac’s lineup, a Driving Excitement alternative to the Buick and Chevrolet cars with which it shared its various platforms. Though it faded from its initial personal luxury prominence, Grand Prix had one final V8 hurrah at the end of its life. It was a sort of return to form after many years with a maximum of six cylinders. Let’s check out some GXP goodness.

Sales fell 27 percent. Brands such as Chrysler, Infiniti, Jeep, and GMC were in torments; shedding volume as demand withered. Subaru showed signs of relative strength, however, as did the Toyota RAV4. Passenger car market share was on the rise and…

Wait a second — we’re clearly not talking about the frightening first quarter of 2020. Scan the auto sales reports from 11 years ago and aside from a few familiar patterns, the U.S. light vehicle market of 2008 and 2009 did not resemble the U.S. light vehicle market of 2020.

Year-over-year, 2009 volume plunged 27 percent in the United States as a global recession melted home equity, eliminated jobs, and sent some of the biggest automakers in the world into a tailspin. Over the course of two years, auto sales actually dropped 35 percent, a loss of 5.7 million units.

Yet by 2012, three years after the collapse and three years into a recovery that would eventually produce record annual volume, 17 major auto brands (more than 100,000 U.S. sales/year) were selling in greater levels than they had in 2008. Meanwhile, seven other auto brands had yet to fully bounce back.

Last week we played a round of Armchair Alternative History where we discussed missed opportunities in the automotive industry. Conversation focused on actions automakers didn’t take when they should’ve.

Today is round two. Let’s go back and erase things that actually happened.

The final tally is in: American taxpayers lost $9.26 billion from the Bush II/Obama-led rescue of the U.S. auto industry.

Six years removed from the Great Recession, LMC Automotive senior vice president and economist Jeff Schuster believes North American auto sales will remain strong through 2020 despite the remaining effects of the recession.

Ford’s executive chairman Bill Ford, Jr. told CNBC this week that former United Auto Workers president Ron Gettelfinger “ doesn’t get enough credit for helping save Ford.”

In a sign the broader economy is on an upswing, small business owners who use commercial vans in their business are replacing their aging equipment with new vans, fueling a boom not seen since the start of the Great Recession.

Just over five years after the Great Recession tightened consumer lending standards on everything from cars to houses, Experian Automotive is forecasting growth in the subprime market for 2014, including longer loan terms and increased delinquencies.

Younger buyers and subprime consumers are expected to drive auto sales in 2014, though some banks are already stepping off the accelerator with auto loans due to heavier competition and a desire to protect their margins.