Global auto outlook strong, US lags analysts

Oct 06, 2010 | 12:20 PM |

The global automotive market will return to pre-recession levels by the end of 2010 on the back of booming demand from emerging regions, but a full recovery in the U.S. market will take at least an extra year, analysts said at Standard & Poor's Auto Industry Hot Topics Conference in New York.

Global light vehicle sales are expected to grow to 70.6 million units in 2010, up about 11 percent from the 64-million unit bottom reached in 2009 and n improvement from the 70 million cars sold in the pre-crisis year of 2007, Jeff Schuster, executive director of global forecasting at J.D. Power & Associates Inc., said.

Developing nations are expected to log the largest yearly gain, with India's sales volumes forecast to increase 29 percent from 2009 to 2.7 million units and China's sales volumes expected to jump 24 percent year on year to 16.2 million units.....

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