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July 31, 2011

2011 Global Car Manufacturing Data : Top 5 Trends

Global car sales advanced 5% in the first half of 2011, despite rising headwinds associated with sovereign debt problems in Western Europe, vehicle shortages from Japanese automakers, and increased consumer caution due to near triple-digit oil prices and higher financial market volatility since April.While China is the world’s largest auto market, Russia is posting the strongest gains this year, with first-half sales surging a stronger-than-expected 56% yr/yr.

Car sales in India jumped 15% in the first half of 2011, a growth rate expected to be maintained in coming months, alongside robust economic growth of roughly 8% Car sales in South America have accelerated to a double-digit gain this year — the strongest increase since2007.

Car sales in the United States have moderated to less than an annualized 12 million units in recent months, but will strengthen by September, as Japanese automakers are likely to launch major sales campaigns once their inventories climb to a more normal level of 60 days’ supply.Passenger vehicle sales in Canada advanced 3% y/y in the first half of 2011 and are expected to climb to 1.59 million in 2011 ( source : Scotia  Bank Report )