Concern Over Asian Auto Sales – Report

A recent report from Autopolis, the organisation offering strategic advice on the world’s auto industry, expresses some concern about future vehicle sales in Asia. It forecasts reduced sales in markets other than China for this year and next, picking up in 2003. The total number of vehicle sales in Asian markets is set to fall by 2.

4 per cent this year and the prediction for 2002 is a further 3.4 per cent decrease. According to Autopolis, there is a danger that declines in some markets could be sharper than currently expected, and individual markets need to be monitored carefully.

Those to watch out for, suggests the organisation, are the Philippines, Thailand and South Korea. However, there is better news concerning the long-term situation, says analyst Graeme Maxton, who predicts that, after the next few difficult years, auto sales in Asia will grow by nearly five million units over the next decade, adding 10 per cent to world demand..