World auto sales above pre-recession levels

Oct 15, 2012 | 04:20 PM | Samuel Frizell

Tags  automotive, Standard and Poor's, LMC Automotive, Jeff Schuster, Beth Anne Bovino, Thomas King, JD Power, Samuel Frizell

NEW YORK — The global automotive market has continued to soar past pre-recession levels as expanding Asian markets drive demand, but sales of new vehicles in the United States will still fall short of their pre-recession levels in 2012, analysts said at Standard & Poor’s (S&P) Auto Industry Hot Topics Conference in New York.

Global light vehicle sales are expected to grow to 80.8 million units in 2012, a 5-percent increase over last year’s volumes and a 15-percent increase over the 70 million cars sold in the pre-crisis year of 2007, said Jeff Schuster, senior vice president of global forecasting at LMC Automotive Ltd.....

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