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AUTO SALES: STEADY RECOVERY WITH FEW CONCERNS
Global auto report 2011

Issue Date - 15/09/2011
 
The cyclical recovery in global auto sales that began in early 2010 was expected to carry on for the remaining part of 2011 taking the volumes to new heights; mostly led by China, India and Russia. The good days may prove short-lived for the industry due to rising interest rates in the developing countries and grim outlook with low job creation in the developed markets.

China drives global growth

Global car sales advanced 5% in the first half of 2011 backed by increased auto lending across the globe – especially in emerging nations, where loan growth is approaching 40% year-over-year. Meanwhile, China, which surpassed US in auto sales in 2009, posted a 30% growth in auto sales in 2010 to drive the global recovery for the automakers. As per expectations, in 2011, new car sales in China and other BRIC nations will surpass the combined volumes of Western Europe and Japan, and will account for nearly 30% of global car sales. However, a slowdown in loan growth (as central banks in emerging nations tighten monetary policy to deal with inflation) may create some adverse situations for the automakers in the remaining months of the year.

 
Russians are hot on wheels

A country break-up of auto sales in 2011 indicates that while China is still the world’s largest auto market, Russia is posting the strongest gains this year, with first-half sales surging a stronger-than-expected 56% y-o-y. On the other hand, looking at the growth of auto sales in Brazil, experts believe that it may become the third largest market by mid decade. As far as India is concerned, with the first half of the year witnessing a 15% growth in sales, the nation is expected to complete 2 million car sales this year. However, on a regional basis, North America is leading the league with total car sales of 13.96 millions in 2010 and is forecasted to surpass 15 million mark (12.7 million in US alone) by the end of this year.

          

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