U.S. Market to Register Double-Digit Growth in April
According to a Thompson Reuters poll of 12 economists, the U.S. car market is forecast to grow by 20 percent (April), reaching a seasonally adjusted annual rate of 11.4 million units. The expansion is an important step forward but fails to reach the 16 million vehicle annual level predicted by the automaker in the pre-recession period.
Hyundai U.S. sales chief Dave Zuchowski expects the automotive sales to see a 21 percent growth in April, subsequent to the mild recovery registered in the previous months. The executive relies on the credit market rebound and on the market's positive attitude for the sales recovery.
"Consumer confidence is a little bit better," Zuchowski was quoted as saying by the aforementioned source. "Credit is loosening up a little bit. And there are more buyers out in the marketplace. We're certainly benefiting from that."
According to the executive, Hyundai expects “steady, sustainable growth” for the U.S. vehicle sales, expecting a figure of 11.8 million vehicles for this year from the 10.4 million level posted last year. The company predicts that the hefty part of the increase will be registered in the second half of the year.
Another car company which should see its sales register a significant growth is Toyota, which has extended its ultra high discounts program in order to compensate for the negative effect of its safety recall campaigns.