DETROIT ( TheStreet) -- The Detroit Auto Show underscored a key fact for the U.S. economy: one of the country's most important industries is in a fully-fired recovery mode.
While the course of the economy and the markets are of course impossible to predict, it is equally impossible not to be swayed by the auto industry's optimism.
Meanwhile, GM (GM - Get Report) CFO Chris Liddell told reporters that the company wants to reduce its debt to zero and match pension asset income to pension asset liabilities, eliminating a drag on the company's value.
Meanwhile, Jim Lentz, president of Toyota (TM - Get Report) Motor Sales USA, said Toyota has a slightly less rosy view than Ford and GM, due to continued high unemployment and a weak housing market. Speaking to the Automotive News World Congress, Lentz said Toyota expects U.S. light vehicle sales to rise by about 9% to 12.5 million units, at the low end of industry estimates. "For the first half of the year, we do see the U.S. economy improving, but at a slower rate than we would like or many analysts expect," Lentz said. "We expect a better year with the prospect of continuous improvement into 2012 and beyond." -- Written by Ted Reed in Detroit . >To contact the writer of this article, click here: