The financial crises that start in September 2008 hit hard the world market and automotive industry was also not untouched. But the situation is looking better now. There are better days ahead for the auto industry.

As the economy is stabilizing, global automakers feel that 2010 will be a great year for the automotive industry as evident by robust growth in auto demand in the month of January. The industry is returning on its path of recovery.

While US auto sales increased 6% in January, other major players like Ford, General Motors, Nissan and Korean automaker Hyundai Motor also saw improved sales in the month of January compared same period last year.

Americas Mark Fields, president of Ford Motor also said that the industry will see a gradual recovery in 2010. "Our call for the industry this year is 11.5-12.5 million units," he added.