ADAM DAVIDSON highlights that consumers’ cars have aged as they postponed replacement purchases during the GFC. This has led to pent-up demand which is getting auto-makers excited:
New-car sales, which collapsed to less than 11 million in 2009, are expected to surpass 14 million this year. And forecasters believe that they will increase by around a million annually for the next couple of years. In 2015, we could eclipse 16 million vehicles sold, which is near the precrisis peak…….This optimism is also embodied in the number of new models about to hit the production line. A few years ago, the industry introduced only around 50 new models. This year, it is planning 94; next year, there will be another 101.
via The Dinged-Up, Broken-Down, Fender-Bended Economic Recovery Plan – NYTimes.com.