Good year predicted for U.S. auto industry

2/23/2012

DETROIT — The U.S. auto industry is poised for its best year since 2007, J.D. Power and Associates-LMC Automotive said Thursday, and raised its 2012 U.S. auto sales forecast to 14 million vehicles, up from 13.8 million.

The consultants said the outlook was raised because there were no signs the European economy will hold back U.S. sales.

Auto sales in 2011 were 12.8 million vehicles, a figure held back by the March quake and tsunami in Japan and to a lesser degree, October floods in Thailand.