General Motors Co. Chairman and CEO Dan Akerson said Thursday that the growth of U.S. auto industry could continue for the next several years as consumers continue to replace their older vehicles. The average age of a vehicle on the road today is about 11 years.
"There's this underpinning strength that may go for the next four or five years," Akerson said during a live interview on CNBC's "Squawk Box" morning show.
He said the end of the payroll tax hurt sales at the beginning of the year. "There's a little bit of the dampening effect, which I think is maybe healthy for the general economy, but it is going to have an impact for a period of time," he said.
Source
The Detroit News