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GM Bullish on U.S. Car Market
General Motors Co. expects the American passenger-vehicle market to total between 16.5 million and 17 million units this year compared with 16.5 million in 2014.
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General Motors Co. expects the American passenger-vehicle market to total between 16.5 million and 17 million units this year compared with 16.5 million in 2014.
Mary Barra
"We believe there is still plenty of room for the auto industry to grow," says CEO Mary Barra. She says an improving job market, low fuel prices and recovering home prices will stimulate demand. The last time the U.S. car market reached 17 million was in 2001.
Barra reports that young and first-time buyers are returning to the car market. She expects the trend to accelerate as the country's economic fundamentals strengthen. GM predicts the U.S. could create as many as 200,000 new jobs per month in 2015.
Many analysts have opined that young consumers are simply less interested in buying cars. Others says interest is there but has been thwarted by a weak job market that left would-be buyers with insufficient income.
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