Southfield, Michigan – Sales of light vehicles in the U.S. were 10.4 million in 2009, the lowest level in 27 years and 21.2 per cent lower than in 2008, according to automotive information company R.L. Polk.
According to its most recent forecast, the company predicts the light vehicle market will be 11.5 million units in 2010.
“We believe wealth accumulation and improving consumer confidence added to GDP growth in the fourth quarter of 2009, and we see slow but steady GDP growth in 2010,” said North American forecast consultant Dave Goebel.
Polk’s analysis indicates that the U.S. economy is in recovery, but risks to the pace of economic growth remain. If consumers do not continue to spend as government stimulus programs end, the economy recovery could slow in 2010.