Car manufacturers believe 2012 will be a banner year for the industry
POSTED: Tuesday, January 3, 2012 - 3:32pm
UPDATED: Thursday, January 12, 2012 - 12:43pm
NBC NATIONAL NEWS — 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.