"We’ve seen a lot of stabilization in the credit markets, the finance market," Hughes-Cromwick said. "Some of those people will eventually be able to get back into the market." For now, "they’re only just starting" to feel confident. There's not yet a "normal appetite for consumer lending." Banks remain cautious about lending, and potential shoppers who are concerned about a job aren’t likely to come into the showroom....

Asked about the prospects for smaller cars, she said: "I think it’s going to be very interesting" to see what happens, adding that "good fundamentals support that." Especially among the young, she can see "interest in a smaller package," and not just during a $4/gallon gasoline period. "I think we will see a variety of demand in the marketplace," she advised. "We know that there’s a variety of buyers out there."

About 60 countries are at "takeoff stage" now in terms of development, Hughes-Cromwick said, and China is far ahead of the pack. Including heavy trucks, China is selling 14 million vehicles per year. At this point, two regions out of three in China "have achieved that per capita income" where vehicle purchases are possible. It takes the equivalent of $15-17,000 per year. After that level, "vehicle sales begin to slow."

In her presentation at the conference itself, Hughes-Cromwick noted that "we were the epicenter of the subprime disaster" but "we are in a global recovery." However, a 2008 consumer expenditures survey by the Department of Commerce found that 44 percent of consumer spending was done by households with $100,000 income and above. ...
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Books in Progress: Editor Jim Flammang, author of more than two dozen books, is working on four more: Steering Toward Oblivion, Hotel Life, Work Hurts, and Absurdities. Each title views its subject from a similarly uncommon and lighthearted - yet serious - perspective. Also in the works: observations on society and major issues of the day from Mr. Maurice, a stuffed pig who just happens to know everything. Flammang's biography of the Google founders, for fifth-graders, is available at bookstores. Three more books for youngsters were published in summer 2008.

Publishers Invited: Outlines and excerpts now are available online. Please see the box at center right. For further information, contact us at JF@tirekick.com.