UK: World light vehicles demand will increase slowly
Global demand for automobiles, light trucks and vans is projected to increase at a slow pace of 1.6 percent per year through 2004 to over 57 million units. The primary causes for this deceleration will be the weak performance of North America (Mexico being an exception) and Western Europe. Less than one percent per year growth is expected in North America through the forecast period while Western Europe will experience a decline in demand. The Latin American, East European, Africa/Mideast and Asia/Pacific regions are all expected to perform extremely well. The economies of the countries in these regions will grow at a brisk pace that is well above the world average, leading to rising personal incomes and a growing base of people who can afford to purchase expensive durable goods such as light vehicles. These and other trends are presented in World Light Vehicles, a new study from The Freedonia Group, Inc., a Cleveland-based industrial market research firm.
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