US auto sales should increase from current levels by the third quarter of this year, possibly climbing to an annualized pace of 12 million units from

US auto sales should increase from current levels by the third quarter of this year, possibly climbing to an annualized pace of 12 million units from the current 10 million pace, the chief executive of Hyundai Motors America said on the sidelines of the Chicago Auto Show.

"Third quarter we hope that the industry will begin recovering. We see the first quarter and second quarter the industry staying at the 10 million unit sales rate for the full year and hope for acceleration in third and fourth quarter," said John Krafcik, Hyundai America's chief executive.