A contrarian view of the U.S. auto industry was offered Wednesday by Itay Michaeli, an automotive analyst for Citi Investment.
On average, automotive sales have rebounded 10% annually every year for the last four years and have increased from a low of about 10.5 million in 2009 to 15.6 million.
That robust recovery has been celebrated in the automotive industry, and most automotive executives said they believe sales will continue to increase to more than 16.3 million this year.
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