By Peter Whoriskey - The chief executive of General Motors said Wednesday that uncertainty surrounding the U.S. economic recovery will continue to depress auto sales and remains one of the primary challenges facing the company.
Citing the high unemployment rate and other dismal statistics, Fritz Henderson predicted that sales will remain far off their 2007 peaks. He forecast that next year there will be 11.5 million car and light-truck sales, down more than 28 percent from about 16 million two years ago.
"Everything we've seen . . . suggests that's a good number to use," Henderson said.
Henderson's remarks stand in contrast to some of the optimism on Wall Street, where stock market indices rose this week in anticipation of strong corporate earnings.
Read full story at: http://www.washingtonpost.com/wp-dyn/content/article/2009/10/07/.....
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