Asia offers a bright spot for troubled global auto sector
Asia offers a bright spot for troubled global auto sector
Agence France-Presse, Singapore
Asia is set to become an increasingly important market for
auto manufacturers with sales set to rise in coming years while
global demand slumps, according to an industry report Monday.
Vehicle sales in Asia outside of Japan are projected to reach
seven million units in 2002, up 12 percent from the 6.23 million
units sold in the previous year, auto consulting firm autopolis
said.
By 2010, total auto sales are expected to hit 10.6 million
units with China slated to become the biggest market in the
region with 4.75 million vehicles sold.
"With the prospects for global car and truck sales the poorest
for more than a decade, Asia is becoming ever more critical to
the world's troubled auto industry," autopolis said.
"Although there is growth in parts of eastern Europe and in
Australia for now, it is the rest of Asia that will increasingly
drive the industry for the next few years," it said.
China and Thailand will provide the biggest growth in auto
demand with the region excluding Japan poised to grow at more
than seven times the global average over the next decade.
Sales of vehicles in China are seen at nearly 2.8 million
units in 2002, up from 2.35 million units in the previous year
and the figure will rise to 4.75 million units in 2010.
Thailand, the other Asian market autopolis predicts will rank
alongside China as the two most exciting, will see vehicle sales
of 400,000 units this year compared with 297,000 in 2001.
The figure is projected to climb up to 585,000 units in 2010.
Elsewhere in the region, South Korea's auto sales this year
will reach 1.64 million units, up from 1.45 million units in 2001
and by 2010, the figure will rise to 1.77 million units,
autopolis said.
In the Philippines, 2002 auto sales are projected at 81,000
units from 77,000 units last year and will increase to 153,000
units in 2010.
Malaysia's auto sales in 2002 will hit 461,000 units, up from
396,000 last year and will total 620,000 in 2010.
In Indonesia, vehicle sales this year are seen at 329,000
units versus 300,000 units in 2001 and in 2010, 530,000 units
will be sold, autopolis said.