Are Auto Sales expected to rebound in 2010?

Are Auto Sales expected to rebound in 2010?

Experts Predict- 2010 A Good Year for Auto Industry

Despite all the recent woes suffered by one of the country’s best-selling brands. Lets take a closer look. Toyota’s recent recall have opened the door for its competitors in the United States. A recent survey by Jumpstart Automotive Group found that 80 percent of prospective car buyers said that they would target buying a Ford, Chrysler, or General Motors vehicle instead of Toyota, due to recent negative publicity related to Toyota’s quality. But more than 33 percent said that they may yet consider a Toyota if they delay their purchase and let the recalls play out.

Last year, 1,772 U.S. dealerships mostly from GM and Chrysler closed their doors as closing under performing dealerships was a large portion of both automakers’ restructuring efforts.  The closures in 2009 may have been the biggest in history, according to the National Automobile Dealers Association (NADA). But despite the losses, NADA says that dealers should look toward a brighter future ahead.

“Last year, through much hard work, we avoided Armageddon for many in our industry,” NADA Chairman Ed Tonkin said in a statement. “Now we’re able to focus on some serious issues that face us this year.”

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Posted: February 18, 2010 at 10:17 am | 405 views

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