Asian Auto Industry “Faces Continuing Stagnation” – Report

A report from automotive industry consultant Autopolis suggests that the Asian auto sector is half-way through “a decade of stagnation”. Sales this year will be flat and predictions for next year are for sales outside Japan to fall by 7 per cent and production to drop 8 per cent as exports decline. Chief Economist Graeme Maxton forecasts that it will take until 2005 for the market to return to 1996 levels.