GM says sales may soon recover
From Times Wire Services
General Motors Corp.’s North American chief said U.S. auto industry sales might have reached “the bottom,” with a recovery as soon as the third quarter.
Slow sales in January and February may indicate “this is the bottom of the market,” Troy Clarke said. Tax rebates that are part of a federal economic stimulus package are set to go out in May and may prod some consumers to buy autos, he said.
GM’s U.S. sales of cars and light trucks fell 6% this year through February, while the industrywide total dropped 5.4%, according to Autodata Corp. in Woodcliff Lake, N.J.
