General Motors Chairman Daniel Akerson is confident his company will enjoy increased sales in the coming year thanks to pent-up demand for new cars.
“Auto sales are actually up for the first quarter versus last year, versus the fourth quarter,” he tells Newsmax.
“The number of cars in the United States parked every night is about 280 million, and it’s the oldest inventory we’ve seen in a generation. There are a lot of people that have postponed the purchase of expensive durables such as vehicles, but that doesn’t mean that people aren’t looking for opportunities to buy a new car.
“Used cars prices are high. So there’s demand [for new cars], given the age of the inventory in the United States. We do expect sales to be higher this year than they were in 2011, by as little as a quarter of a million to as much as a million higher.
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