It's not often we see things change as quickly and dramatically as it happened this past two years in the automotive industry. In 2009, car makers were suffering from perhaps the most dramatic economic situation in the 100+ years of motoring, while in 2010, most of them have begun to feel they are blessed again.
For some reason, the downward spiral of 2009 turned one year later into a climb to new heights in the industry. New hopes were born, past difficulties buried and a wave of fresh, new ideas engulfed one of the most important industries of the modern day world.
Below you'll find a quick sum up of the most important moments which took place in 2010 and will shape the future. Big car makers, at the forefront of the industry's evolution, have tried, and for what is worth, have succeeded in creating the perfect medium for the future to thrive.
The nastiest surprise of 2009 recovered in an amazing way in 2010. Hit by big financial problems in 2009, the car maker managed to make amends and make up for its sins. The huge loan received from the US and Canadian governments have been pretty much repaid
(the manner in which the money got back into the governments' pockets will remain perhaps a reason for debate for years to come).
GM, also as part of its financial reinvention, filed an initial public offering
in late 2010, one which shortly became the biggest one in the history of IPOs
. Its successful launch on Wall Street marked an important milestone for the American industry.
Perhaps the most important feats achieved by GM last year was the launch of the Volt plug-in hybrid
vehicle. Although we are confident the car will lack the necessary power to change the world
in one or two years, it previews the shape of things to come for both the auto and the oil industries.