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.

To view related research reports, please follow
the links below
:-

Review
of the German Automotive Industry

The
world’s car manufacturers: A financial and operating review (download)