After the horrible spectacles of collapse of General Motors and Chrysler into bankruptcy in 2009, US auto sales are expected to boost, signalling a recovery in 2010.
The collapse in U. S auto sales in 2009 lead to the emergence of china as the biggest car market.
"We're looking at a slow, fragile recovery in 2010," said Mirko Mikelic, senior portfolio manager at Fifth Third Asset Management in Grand Rapids, Michigan, which manages $19 billion in assets. "It will be a slow slog. With the wind down of brands, GM's going to be paying the price. And Ford will benefit", he added.
With the emerging need for new vehicles and improving availability of consumer credit, the season's annual rate is expected to be 11.1 million cars from the low 10.3 million in December 2008 and 10.9 million in November and light trucks, in accordance to the average estimate of eight analysts in a Bloomberg survey.
The recent estimates show that Ford, Michigan may register a 13% gain while among the Japanese automakers; Toyota Motor Corp. gained 21%, Honda Motor Co.'s gained 7.8%, and Nissan Motor Co.'s rose 4.9 percent.
"It appears December will be the strongest sales month this year, except for August," Pipas said. "That's a nice way to close out 2009 and it's a positive sign of higher levels of interest and buying next year."












