December’s vehicle sales point to 2010 uptick

[rickaren]

December’s vehicle sales point to 2010 uptick

Posted on Wednesday, January 6th, 2010 at 11:16 AM EST.(Employee News)

Automakers emerging from the worst year since 1970 are cautiously optimistic that a recovery is under way after last year’s collapse in U.S. auto sales, The Detroit News said.

Industry executives and analysts said Tuesday they expect car and light truck sales to rise to 11.5 million or more this year from 10.4 million in 2009, bolstered by a strengthening economy, the News said. The most bullish analysts forecast sales exceeding 13 million vehicles — still far below the market’s peak of 17.4 million at the start of the last decade when business was booming for Detroit’s Big Three, the paper said.

“Normalcy is about two years away,” said Jesse Toprak, an auto analyst at pricing and sales forecaster Truecar.com quoted by the News.

But executives were encouraged by December’s sales, which marked the fourth consecutive monthly increase in the annualized selling rate, the News said. Automakers also reported strengthening demand for both large and small vehicles, the News said.

Many executives remain cautious but few still worry about a dreaded double-dip recession, according to the paper. (Detroit News)