“It’ll be tougher than it was three years ago, but it will be easier than it was in the first half of last year,” said John Murphy, lead U.S. auto analystfor Bank of America-Merrill Lynch.
Murphy, who came to town for the Detroit auto show, told me in an interview that that car sales could do better than many expect because consumers are gradually becoming more confident and many cars need to be replaced.
“The big question is the consumers’ ability to buy,” Murphy told financial analysts Monday at a meeting of the CFA Society of Detroit.
While there are signs of a recovery in credit markets, he said, it may take some time for the average consumer to see more signs of normalized lending in the showroom.
Ultimately, though, he expects more financing to be available.
If so, getting a car loan might not be as big of a headache as it was last year.
source here.
