In 2011 the global car market is expected to have grown 4% over 2010 to a new record: 75 million units. Both industry analysts IHS Automotive and LMC Automotive agree on that figure in their estimates. This is actually quite an impressive feat considering the impact on world car production of the Japan tsunami and Thai floods, as well as the debt crisis in Europe.
The two main markets are obviously China with just under 19 million units, a whopping 25% of global sales, and the US with around 12.8 million new vehicles registered. Interestingly and for the first time in probably 20-odd years, the US market has grown faster (+9%) than the Chinese one (+5%) this year…
For 2012, predictions are bright, once again despite the economic situation in Europe. IHC banks on another 4% increase to 78 million vehicles while LMC bets on 5%, leading the market to 79 million units. However the Western European market is tipped to decline by five per cent in 2012.
More traffic jam pictures and source below.