World auto sales expected to rise 7.0 percent: study
Tuesday 15 June 2010
Worldwide sales of new cars are expected to rise 7.0 percent this year to 68 million units despite a 10 percent slide in Europe, a study by the AlixPartners research group predicted Monday.
The study also forecast that in China annual sales of new cars should hit 20 million in the next five years, two and a half times the 2007 volume.
The report attributed the projected decline in Europe to an end to government programs offering bonuses to drivers who exchanged older vehicles for new models.
Sales in North America by contrast are forecast to rise 12 percent.
The study foresaw a gain in world sales to 87 million units by 2014 but added that markets in western Europe, North America and Japan were not likely to re-gain their 2007 levels before 2014.
AlixPartners found that in North America the auto industry has undergone a vast restructuring after a sharp fall in sales to 12.7 million in 2009 from 18.9 million in 2007.
US manufacturers last year managed to generate profits that approached those of 2007 despite a weaker production level than that which prevailed before the 2008 financial crisis.
Life & Style blogs
Apple's Tim Cook: Business isn’t just about making profit
Thousands of young people forced to go without food after benefits wrongly stopped under 'draconian' new sanctions regime
Ukraine crisis: New navy chief 'defects' and surrenders Crimean HQ as Putin claims ultranationalists forced intervention
Britain's top vet sparks controversy with call for ban on slashing animals' throats in 'ritual' slaughters for halal and kosher meat products
Ukraine crisis: Russia dismisses '3am ultimatum' as 'total nonsense'
If you're horrified by a flame-roasted dog, you should be shocked at a hog roast
- 1 The future of sex: The first female condoms were derided, mistrusted and shunned - but will their modern counterparts catch on?
- 2 South African rhino finally put down after roaming Kruger park for days with horn hacked off and bullet in brain
- 3 Italian pensioner hires an escort who turns out to be his son's girlfriend
- 4 Orgasm machine to deliver climax at the push of a button
- 5 Liam Neeson turned down James Bond role to marry Natasha Richardson
£12000 per annum: Inspiring Interns: A small but growing chain of boutique hot...
£12000 per annum: Inspiring Interns: The company works with Tier 1 FTSE 100 Ba...
£45 - 60k Per Annum: Charter Selection: Highly profitable leisure brand, marke...
£30000 - £50000 per annum + Highly Competitive Salary: Austen Lloyd: Residenti...