North American International Auto Show kicks off in Detroit

Confidence and optimism surround this year's North American International Auto Show at Cobo Hall in Detroit, according to CBS News.


"Last year, we came halfway back; this year, we're all the way back," said Jim Seavitt, a 30-year Ford dealer and chairman of the auto show.


The show, which gets underway Monday, will kick off what one prominent analyst says should be some of the most profitable years in the auto industry's history.


"The North American market is running very hot right now and has three to five years of sales increases ahead of it," said Dennis DesRosiers, president of DesRosiers Automotive Consultants.


Detroit Mayor Dave Bing said the industry is definitely back.


"And not just the volume [of vehicles], but all of the upgrades they've made," he said of the automakers. "I don’t think three or four years ago anyone thought this was possible.


"Anything is possible. Cobo is ready for the world. Pretty soon, Detroit will be ready for the world."


Last year marked the second-best sales year on record for Canada, where 1,675,675 vehicles were sold. That was a 5.7 per cent increase from 2011.


DesRosiers said Canadian sales in 2013 should be better than 2012.

In the US, the most recent auto sales forecast by R.L. Polk & Co. suggests they should top 15 million units in 2013, a rise from 500,000 in 2012.


In 2015, Americans are projected to buy more than 16 million cars. That hasn't happened since 2007.


DesRosiers said that, in his mind, this year's theme at the auto show is "mass market production."


"The vehicle companies realize they are heading into the hottest market in the history of the auto sector and they want to show their best market vehicles to get some buzz around them," said DesRosiers, who has been studying the industry for 40 years. "That's what I expect in Detroit."