Global car sales will hit 88.6 million in 2015, pushed by U.S. and China, IHS predicts
million vehicles, a 2.4 percent increase from 2014 that would continue a five-year growth streak, IHS Automotive said today.China and the U.S. will lead the increase, with regions in Europe and South America in flux.
U.S. expansion continues
IHS forecasts sales of 16.9 million vehicles in the U.S., up from 16.5 million in 2014.“With a strong exit to 2014, and gasoline prices currently plunging, consumers may feel even more positive throughout 2015,” an IHS statement said.
IHS expects SUV sales to lead China’s gain this year, forecasting an increase in share from 26 percent in 2014 to 28 percent in 2015.
But the 2015 sales forecast is bleaker in Europe, where the Russian economic collapse will impact surrounding countries, potentially offsetting the benefit of plunging gas prices, IHS said
South American troubles
South America’s sales are also on the decline. After monthly sales units broke 500,000 vehicles seven times in 2013, South America’s automotive demand dipped 10 percent in 2014.
Commodity and raw material price changes and low fuel prices, “will be significant tailwinds for the auto sector, its margins and for most of the world consumers.
2015 Outlook of the Global Automotive Aftermarket : China and India Markets Developing Rapidly
Global automotive parts and service suppliers enjoyed a year of steady growth in 2014, thanks to continued development of Asian and Latin American markets.
Drivers and restraints
Increasing vehicles in operation was the main growth driver in the emerging markets of Asia and Latin America. Global light vehicles in operation will increase.
Increasing average age of vehicles was the main growth driver in developed regions. This is resulting in higher repair bills for motorists keeping their aging vehicles for several more years.
Generally speaking,The worldwide automotive industry has been enjoying a period of relatively strong growth and profitability.The most immediate challenge is the unevenness of global markets. At the same time,the automotive growth will push forward automotive repair and maintenance service market developing rapidly.
This article is from Automotive News
and PR Newswire
.And finished by Okay Energy(We are professional engine carbon cleaning machine
for cars and hho generator supplier
and manufacturer.Welcome automotive repair and maintenance service supplier to join us for car service business)