Mark LeNeve has said that US light vehicle sales next year could reach 13.5m units. The remarks follow on from recently revised expectations by a number of analysts that next year could see a string rebound.
Go deeper with GlobalData
Dow Jones reports that LeNeve, vice president of North American sales, said industry-wide volume in 2010 could rebound to between 11m and 13.5m in 2010, with the top end of the forecast seen as ‘achievable’.
The report noted that US OEMs are already boosting production to meet rising demand, stimulated by the ‘cash for clunkers’ scrappage programme.
The report said that LeNeve’s forecast is higher than most in the industry, with Ford executives pointing to industry sales of 12.3m next year.
Analyst Adam Jonas of investment bank Morgan Stanley recently said in a research note that the US car market has already bottomed and is poised for a very strong rebound.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“Even without any further government stimulus, we expect the US light vehicle market to grow 16 percent in 2010 to 12.8m units,” Jonas said.
Other analysts have noted that while some underlying market factors point to a recovery, the continuing ill health of the US economy could make it a weak one.
