Emerging economies to boost 2017 world auto sales
Global auto sales in 2017 are expected to rise one per cent from this year to 90,592,000 vehicles as a continued sales slump in advanced economies will be offset by a recovery in demand from Africa and other emerging economies, a Japanese research firm said.
Sales in the United States, the world’s second-biggest auto market after China, will remain flat at 17.20 million vehicles after years of higher growth, Nakanishi Research Institute said.
Japan is likely to see a six per cent decrease to 4.62 million cars due mainly to the lack of last-minute demand initially expected to be leveraged by the consumption tax hike that had been scheduled in next April.
While sales in western Europe are expected to increase by one per cent to 15.90 million cars, those in Britain will drop 10 per cent to 2.67 million vehicles, affected by its decision to leave the European Union, the institute said.
China, with slower economic growth, is expected to see a two per cent increase to 27.21 million vehicles.
Among other major developing countries, though, sales in India will likely grow eight per cent to 3.99 million vehicles on the improving domestic economy. Those in Southeast Asia, where auto sales could bottom out this year, are expected to steadily increase next year, with Thailand observing an eight per cent rise to 749,000 vehicles and Indonesia marking a 9 per cent increase to 1.19 million.