By Byron Hurd
General Motors CEO Mary Barra believes the U.S. auto market will grow to between 16.5 and 17 million units in 2015.
"We believe there is still plenty of room for the auto industry to grow," Barra said. "The strength of the labor market, better job security and the recovery in home prices have consumers feeling pretty good about the future. The recent sharp drop in fuel prices and rising incomes should only add to their confidence."
the Detroit Free Press, low oil prices, increased job security, and greater employment levels for entry-level professionals will likely all contribute to growth over an . The industry grew from 15.6 million units in 2013 to 16.5 million in 2014, or roughly 6%, and put the market back on the pace it abandoned in 2007 when the recession began.
Analysts projected a strong end to 2014, with most predicting a total volume of . A bump to 17 million units would represent only 3% growth, but would put the industry on pace for another historic year.