After a long stint with declining sales, global automakers are now optimistic that the industry is gradually returning on the path of recovery and feel 2010 will be a better year for auto sales.
The past couple of years have been tough for everyone 'but things are now definitely looking up. There are certain signs of life in the industry,' General Motors Co's North American president Mark Reuss told reporters on the sidelines of the Chicago Auto Show.
"There is no question this year will be better," he said, adding that the situation is a lot better now than it was a year ago. Ford Motor president of the Americas Mark Fields said the industry will see a gradual recovery in 2010.
"Our call for the industry this year is 11.5-12.5 million units," he added.
The financial crisis that hit in September 2008 impacted not only the US car market but also the world markets.
But the business is looking up a little bit better now, Honda's assistant vice-president public relations for America, Kurt Antonius said, adding that compared to previous year, 'there are better days ahead for the auto industry'.
US auto sales rose six per cent in January.
Ford, General Motors, Nissan and Korean automaker Hyundai Motor reported improved sales in January compared to a year ago.
