Quote:
Originally Posted by widebody911
Simply put, the automotive bubble has burst.
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It's not like the housing bubble. It might be true that it is over for the big three US automakers, but the industry will rebound. Cars are not as durable as houses. We will need more to replace the millions of cars we 'retire' each year. Will it be 16 million new units again soon? Maybe sooner than you'd think. But 12 million is still a lot of units. And studies show that demand is pent up. The average car on the road is 9 years old, which is unprecedented. Experts are predicting that 2011 will be a big year for auto production.