July Auto Sales Growth in Emerging Economies

16 August 2010 - Auto sales growth in July continue to rise double-digit year-on-year in most emerging economies, though at more moderate gains.

In China, auto sales in July grew 14.4% to 1.24 million units from a year earlier. For the January-July period, China’s vehicle sales reached 10.3 million units, up 42.7%. For passenger vehicle, China’s sales grew 13.55% in July to 946,200 units from a year earlier. For the January-July period, passenger vehicle sales totaled 7.67 million units, up 42.8%.

In India, car sales hit an all-time high in July rising by 38% to 158,764 units up from 115,084 units a year earlier as new models expansion and rising disposable income encouraged consumer buying.

In Russia, car sales in July rose 48% to 173,000 units, up from 117,000 units from a year earlier. The increase in car sales was attributed to smaller cars becoming affordable and the Russians becoming more confident of the country's economic recovery.

In Mexico, auto production in July rose 65% to 180,083 units from a year earlier, backed by a 58% increase in exports to 143,521 units. Domestic car sales expansion was still slow rising by 9.8% to 61,959 units in July. For the January-July 2010 period, domestic car sales rose 4.9% from a year ago to 432,926 units, but they remained 28% lower than in the similar 2008 period. 

(irco.biz)