US: Global vehicle market to reach 100m by 2017
A report by consultants IHS Automotive forecasts that the global vehicle market will exceed 100m units by 2017, driven by continued motorisation in emerging markets.
The report also says that General Motors, Volkswagen and Toyota will each sell more than 10m new vehicles worldwide in 2020.
The report also projects that new vehicles sold worldwide will reach 100m in 2017 and climb to around 108m in 2020, up 44% over last year's total. China, India and other emerging economies will account for 63% of global sales in 2017, up from 58% in 2011.
IHS Automotive projects that GM will sell 11.5m vehicles in 2020, followed by VW with 11.3m and Toyota with 10.4m. Hyundai Motor will take fourth place with 8.2m.
The report suggests that by 2020 China's vehicle market will have grown to more than 30m units. The Indian car market is seen growing to 6.7m with Brazil up to 5.7m by 2020.