Toyota: Pent-up demand for new cars to slow
North American CEO Jim Lentz saidt the demand came from people who kept cars through the recession. The average age of a car on U.S. roads hit a record this year at more than 11 years.
As buyers have gained confidence following the economic downturn, they've replaced aging cars. Lentz says that demand could be satisfied by late next year.
He says if that happens while the economy is still sputtering, auto sales may flatten out.
Auto sales have helped fuel the U.S. economic recovery for the past two years. Sales this year are at the best pace since 2007.
Our new comment system is not supported in IE 7. Please upgrade your browser here.