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03-07-2010, 07:43 PM #1
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Car sales continue plunge: Industry expected to languish dec
FROM JEROME CORSI'S RED ALERT
What a boomer! Car sales continue plunge
Industry expected to languish for decades due to generation's retirement
Posted: March 01, 2010
7:16 pm Eastern
© 2010 WorldNetDaily
U.S. auto sales are expected to languish for decades, due largely to baby-boomer generation retirement, Jerome Corsi's Red Alert reports.
Baby boomers helped to nearly double the demand for new passenger vehicles in North America from the 1960s to a peak of 17.4 million cars over the last decade.
"This year, however, auto sales in North America are projected to reach only 13 million vehicles, up from 11.9 million vehicles in 2009, largely because 'unfavorable demographics' are expected to dampen vehicle demand for decades to come," Corsi wrote.
He noted the effect of the aging baby boomers is likely to be apparent in 2013 when the number of drivers 60 years or older surpasses the potential young vehicle-buying population.
The only bright spot for the U.S. auto market is that nearly half the 250 million cars and trucks on U.S. roads are at least 10 years old, meaning replacement vehicles will become increasingly necessary, he wrote.
"While the Obama administration took over Chrysler and GM to prevent bankruptcy, the U.S. auto industry's problems are far from solved," Corsi noted.
To learn more about Red Alert's predictions for the future of the auto industry and about which group of automakers is now lining up for a new series of government bailouts, read Jerome Corsi's Red Alert, the premium, online intelligence news source by the WND staff writer, columnist and author of the New York Times No. 1 best-seller, "The Obama Nation."
In his 25-year financial services career, Corsi has been a noted financial services speaker and writer, publishing three books and numerous articles in professional financial services journals and magazines.
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