Car manufacturers believe 2012 will be a banner year for the industry

Car manufacturers believe 2012 will be a banner year for the industry

POSTED: Tuesday, January 3, 2012 - 4:32pm

UPDATED: Thursday, January 12, 2012 - 1:43pm

Automakers believe 2012 will be a very good year.

After hitting a 30-year low in 2009, auto sales rebounded in 2011.

Now, experts predict auto sales will be even better this year, climbing as high as 13.8 million; this would not set a record for number of cars sold in a calendar year, but would still be considered a very healthy market.

The Associated Press attributes the growth to easier credit, low interest rates, and pent-up demand for cars and trucks created by the recession.

As a result, automakers plan to crank up their factories. The Center for Automotive Research predicts the industry will add 167,000 jobs during the next three years.

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