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Toyota Exec: Pent-up Demand For New Cars Will End

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September 26, 2013 AT 12:18 PM
Toyota's North American CEO Jim Lentz told The Associated Press that the demand that has driven the car industry came from people who kept cars through the recession. As buyers have gained confidence following the economic downturn, they've replaced aging cars. Lentz says that demand could be satisfied by late next year and if that happens while the economy is still sputtering, auto sales may flatten out.