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As the global economy has seen a rapid rate of growth over the past years, new car sales have boomed to record levels. In the US alone, figures have reached 15.5 million cars this year, 5 million more than in the recession year of 2009.
Just as sales will experience an incremental increase in the next four years in the US, global ones are expected to do the same, going up by an expected 22%. Yes, it seems they might be booming from about 82 million this year to more than 100 by 2018.
Therefore, we can agree with IHS Automotive economist Charles Chesbrough when he says that the economic outlook for all regions of the world is improving. Of course this also includes Europe.
“Europe is probably at the very end of their unemployment losses,” he said. This means things will change and automotive manufacturers won’t have to deal with the continent’s continued recession. Even so, this doesn’t mean this is the perfect market for automakers, the real opportunities still being in China, Thailand, Brazil and even Chile.
All in all, it’s perfectly clear that we’ll be experiencing a worldwide economic growth, something that will surely benefit the car market. The question is, will automakers be able to keep up with the demand?!
Source: Detroit Free Press
Therefore, we can agree with IHS Automotive economist Charles Chesbrough when he says that the economic outlook for all regions of the world is improving. Of course this also includes Europe.
“Europe is probably at the very end of their unemployment losses,” he said. This means things will change and automotive manufacturers won’t have to deal with the continent’s continued recession. Even so, this doesn’t mean this is the perfect market for automakers, the real opportunities still being in China, Thailand, Brazil and even Chile.
All in all, it’s perfectly clear that we’ll be experiencing a worldwide economic growth, something that will surely benefit the car market. The question is, will automakers be able to keep up with the demand?!
Source: Detroit Free Press
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