According to A.T. Kearney consulting firm, U.S. auto sales are likely to recover to pre-recession levels by 2013, thanks to high demand from consumers that are ready to replace aging cars and pickups. A.T. Kearney said that sales will rise this year to 13.2 million cars and light trucks from 11.6 million last year.
The firm sees sales growing further and expects them to hit pre-recession levels of about 16 million vehicles by 2013. According to Autodata Corp, between 2000 to 2007, annual automotive sales averaged 16.8 million.
A.T. Kearney said that the average age of vehicles on the road is 10.4 years. The firm estimates pent-up demand since 2007 totals 32 million vehicles and will contribute more than 9 million new car sales
– By: Omar Rana
Source: Detroit News