The US auto market is continuing to show signs of recovery, a leading executive at Ford Motor Co has said.
Ford’s Mark Fields, president of the auto giant’s Americas division, was quoted saying that he predicted the seasonally adjusted annualised rate for sales in the US light vehicle market would be close to 12m units in October, which he said would show the US auto industry is slowly recovering.
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As reported on just-auto earlier this month, September’s US light vehicle sales volumes were up 28.5% on the same month in 2009 and year-to-date (YTD) sales were 10.3% ahead of 2009.
Volume was down just 3.9% compared to August 2010, which was better than expected. September’s seasonally adjusted annualised rate (SAAR) of 11.76m units was not just a huge gain over last September’s abysmal 9.38m but better than August 2010’s 11.47m.
Analysts believe that a 12m sale year isn’t likely but 11.8m units is realistic. But even hitting that number puts the industry on track for a 12m-plus market in 2011 and, with the number of new vehicles coming out, that number could easily go higher.
