Reuters Summit-BMW sees slower 2010 U.S. rebound

Published: 02 Nov 2009 10:19:28 PST

DETROIT, Nov 2 - BMW expects a slower recovery in 2010 U.S. auto sales than anticipated just a few months ago with consumer debt remaining a drag on the developing rebound, the automaker's president for North America said on Monday.

"I think it will be a slower recovery than I had originally anticipated," Jim O'Donnell, president of BMW North America, said at the Reuters Autos Summit.

"There is still a lot of consumer debt out there," O'Donnell said. "That is keeping the average consumer from going out and making big purchases."

O'Donnell said he expected the U.S. auto market would recover to top 11 million vehicles in 2010 compared with slightly more than 10 million expected this year.

BMW had forecast 2010 sales of 11.5 million units as late as September, but O'Donnell said that was now more likely to represent the top of the potential sales range for next year.