GM's Batey: Market Share to Rise, Profit Outlook Positive

Alan Batey, President of General Motors North America is seeing signs of a strong auto market this year and expect total vehicle sales will top 17 million units. He tells TheStreet's Rhonda Schaffler that low fuel prices have accelerated sales of pick-ups, SUVs and crossovers, while passenger car sales have contracted. Batey says average transaction prices are at all time high levels, which is positive for profits and he expects market share will increase slightly this year. Batey does not think vehicles sales will be impacted if the Federal Reserve increases interest rates this year, and says there's pent-up demand driven by car owners whose vehicles are more than ten years old.