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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