Automakers will be “gushing profits” when annual U.S. sales reach 15 million vehicles, Steven Rattner, the former head of the federal government’s auto task force, said today on Bloomberg Television.

The U.S. auto industry, which Rattner said is recovering a bit “slower” than he expected, will return to annual sales of 15 million in the future, Rattner said on “Surveillance Midday with Tom Keene” on Bloomberg Television.

U.S. carmakers in September sold vehicles at a seasonally adjusted annual rate of 11.8 million, up from 9.4 million a year earlier, according to researcher Autodata Corp. on Oct. 1.