Automakers saw stronger 2011 -- and better times ahead

After hitting a 30-year low in 2009, U.S. auto sales will show a second straight year of growth when the figures are tallied for 2011. The Associated Press attributes the reasons as easier credit, low interest rates and pent-up demand for cars and trucks created by the Great Recession.

The AP reports:

The sales forecast bodes well for the industry's continued recovery and for the broader American economy.

In 2009, Detroit automakers were in peril. Car sales plunged as unemployment soared, and loans became harder to get. Chrysler and General Motors filed for bankruptcy protection. Ford avoided bankruptcy only by borrowing billions.

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