{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

article - U.S..9Million Salesin2011 Craig T 4:59 pm ET Jan...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
U.S. Auto Recovery May Continue With 12.9 Million  Sales in 2011 Craig Trudell Jan 05, 2011 4:59 pm ET Jan. 5 (Bloomberg) -- U.S. automobile sales may rise to 12.9 million vehicles in 2011 , the second straight year of gains, showing investors that the market’s recovery is legitimate. Total deliveries will rise 11 percent from 2010 , according to the average of 17 analysts’ estimates compiled by Bloomberg. Sales rebounded to 11.6 million vehicles last year from a 27- year low in 2009, Autodata Corp. said yesterday. The gain would provide additional revenue for an industry that returned to profitability in 2010, led by Ford Motor Co.’s $6.37 billion of earnings through three quarters. Still, the analysts’ forecast is for the third-lowest annual total since 1992. It would be 23 percent less than the average 16.8 million annual sales rate before the recession. “There are some serious positives out there, but some buyers have still been forced out of the market due to credit issues, or they’re paying down debt and unwilling to originate a new car loan,” said Dan Montague, an analyst at the Autofacts forecasting unit of PricewaterhouseCoopers LLP, which forecasts 12.5 million deliveries this year. “It’s going to be methodical, stair-step kind of growth.” General Motors Co., Ford and Chrysler Group LLC reported U.S. sales gains that topped analysts’ estimates in December , pushing the industry’s annual rate to 12.6 million for the month
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern