Detroit's bankruptcy woes: five key things to know

Detroit is a city in continued crisis, facing, among other things, pending insolvency that would make it the largest US city to declare Chapter 9 bankruptcy. Here are five things to know about the Motor City.

5. What is the status of Detroit’s auto industry now?

Rebecca Cook/Reuters
The General Motors World Headquarters is seen in Detroit, Michigan, January 11, 2013.

Detroit’s big three automakers – General Motors, Ford, and Chrysler – are rebounding, making it one of the city’s few success stories in recent years. All three reported strong gains in global sales for the first half of 2013. One factor boosting revenue: China. All three car companies have opened factories or established supply chains there. GM leads competitors in sales; it enjoyed a nearly 11 percent jump in Chinese sales for the first half of the year, a record for the company and a figure that nearly matched its car sales in North America.

Detroit is also benefiting from Chinese investment. Chinese companies are pouring $1 billion into Michigan, and 95 percent of it is automotive-related, according to the state.

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