DETROIT (AP) -- A Barclays Capital analyst says the U.S. auto industry is likely to see a bit of a sales rebound in September over poor numbers in August, with an uptick in retail sales to individual drivers.
Analyst Brian Johnson wrote Monday in a note to investors that stronger retail sales would be offset by weaker sales to fleet buyers such as rental car companies. That's good news for automakers because they make far more money on sales to individuals.
But a September increase probably isn't a sign of an industry rebound. Johnson doesn't expect any big improvement in auto sales soon.
Johnson expects sales to remain around current levels for the remainder of 2010 and is sticking with his forecast of 12 million in sales for next year.
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