Auto sales set to recover strongly in the U.S.?

Auto sales are set to jump in the coming years but will high gas prices put a strain on the auto recovery?

From CNN.com:

FORTUNE — It has been a dismal three-plus years for U.S. auto sales.

After a halcyon stretch early in the 2000s, when annual sales of cars and light trucks topped 16 million for nine straight years — and even poked above 17 million at times — they have been sharply depressed.

Sales tumbled to 13.2 million in 2008 and then fell all the way to 10.4 million in 2009, helping to send General Motors and Chrysler into bankruptcy.

Since then, sales have improved slightly, recovering to 11.6 million last year — but still well below long-term trends.

Now, in a surprisingly upbeat forecast, economist George Magliano of HIS Global Insight sees better times ahead — much better, in fact.

Read the full article.

  

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