As the Great Recession fades further and further from the rearview mirrors of American minds, U.S. consumers are ramping up their expenditures on automobiles. With the average age of vehicles on the road in the U.S. around 11.4 years old, according to industry analyst IHS Automotive, necessity is helping to drive home sales for automakers.
In a recent AP story, it was reported that car and truck sales finished 2014 strongly. For all of 2014, analysts are predicting sales of 16.5 million vehicles, up 6 percent from last year and a return to pre-recession levels. Analysts also say Americans will continue to buy cars in big numbers in 2015.
With all of this great news for the auto industry in the U.S. market, it’s no wonder why car companies are expanding production in North America. But at least one company plans to do business a little differently. Check out Bloomberg's Stephen Engle as he reports on Volvo's plan to export Chinese-made cars to the U.S.:
WHAT DO YOU THINK?
Will American consumers buy into the trend of Chinese-made Volvos? Will the vehicles be held to higher scrutiny? Tell us what you think by leaving your comments below.
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