At a conference in Munich, DRI-WEFA has presented its latest global automotive industry forecast which includes significant downward revisions.

Light vehicle sales in the NAFTA region are forecast to decline by 7.8 percent in 2002 to 17.6 million units. In Western Europe, a 2002 reduction of five percent to 15.6 million units is forecast.

DRI-WEFA analysts emphasise that their base forecast holds significant short-term downside risks, although a recovery is still forecast for 2003.

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