Come 2010, U.S. customers will storm the few remaining dealerships. GM will go public with a healthy pop that makes the taxpayer rich. The good old times will be back. The Japanese don’t think so.
The head of Japan’s auto-making lobby fears that the U.S. market will remain weak and will not reach total sales of 11mi vehicles next year, says Reuters. That and the strong Yen doesn’t bode too well for the Japanese car industry.
U.S. auto sales are expected to end with an annual sales rate of about 10.5 million units, the lowest level since the early 1980s. Led by the notorious CAR thinktank, Many are hoping, praying, and wishfully thinking that there will be at least a little blip next year. To, say, 11m to 12m units, or thereabouts. To which Japan, always with a keen eye on the U.S. market, says: “What have you been smoking?”
“I expect the U.S. market would be slightly better than this year, but there are fears that it won’t reach 11 million,” Satoshi Aoki, chairman of Honda and of the Japan Automobile Manufacturers Association (JAMA) said at a news conference.
Oh well. If all else fails, we’ll wait until the mystical 2012. Everything will be better in 2012.