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U.S. markets recover from steep losses
DETROIT, Aug. 11 (UPI) -- Small car sales could jump to 3 million in the United States in 2008 if car makers kept up with demand, industry analysts said.
Ford Motor Co., sales analyst George Pipas told USA Today that the "stunning" shift in consumer demand could top the 2.9 million small car sales sold in 1986.
General Motors Corp. market analyst John McDonald said 3 million small cars sales was possible "if the trend continues."
But market analysts see supply as the possible holdup. "The demand is there if manufacturers can increase supply," President of Autodata Ron Pinelli told USA Today.
Sales of Ford's small car, the Focus, are up 26 percent on the year as consumers react to rising gas prices, which peaked at $4.114 per gallon in July.
Along with demand, prices for small cars have risen 20 percent this year in wholesale markets, the newspaper reported.
Hybrids are especially in high demand. "Dealers are fighting all over themselves to get one of those right now," Tom Kontos, executive vice president of Adesa Analytical Services told the newspaper.
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