U.S. Auto Sales May Reach 14 Million in 2012, Group 1 CEO Says

U.S. auto sales may reach 14 million light vehicles in 2012, said Earl Hesterberg, chief executive officer of Group 1 Automotive Inc. (GPI), citing better- than-expected growth in January and the fourth quarter.

“We think 14 million is a good number,” Hesterberg said today in response to a question about his outook for industrywide sales this year. “I would have probably said 13.8 million a couple of weeks ago.”

Hesterberg spoke to reporters today at an industry conference in Las Vegas organized by J.D. Power & Associates.

To contact the reporter on this story: Craig Trudell in Las Vegas at ctrudell1@bloomberg.net

To contact the editor responsible for this story: Bill Koenig at wkoenig@bloomberg.net

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