Detroit Bureau on Twitter

Posts Tagged ‘auto results 2010’

Improved Vehicle Sales Coming in 2010

NADA economist says rising consumer confidence and employment, increased credit lead to optimism.

by on Feb.15, 2010

Slow recovery is predicted, with the gasoline price wild card an unknown factor.

U.S. light-vehicle sales will reach just short of 12 million units in 2010 as credit becomes more available and consumer confidence improves with rising employment, according to Paul Taylor, chief economist for the National Automobile Dealers Association.

Speaking at the NADA Convention & Exposition in Orlando, Taylor said, “Industry sales will increase to 11.9 million light vehicles for 2010.”

This is an improvement from 10.4 million in 2009, but still far, far below the 17 million units the industry was feasting on before reckless practices on Wall Street collapsed the Global financial markets in the fall of 2008.

http://www.thedetroitbureau.com/about/subscribe

In-Formed!

The NADA number is lower than more optimistic estimates from General Motors and other automakers, which are hoping that U.S.  sales top more than 12 million or even higher.

(more…)