Global auto sales may rise 4.3 pct in 2010

SEOUL, Feb. 16 (Yonhap) -- Worldwide auto sales will likely to grow to 66.1
million units this year, up 4.3 percent from last year, reinforcing expectations
of a modest recovery in the global auto market after the global economic crisis,
a private report showed Tuesday.

The expected recovery in global auto sales will be fueled by an estimated 9.9
percent growth in Chinese auto sales and an estimated 11.8 percent gain in Indian
sales this year. The countries represent the two most important growth markets
for the ailing global auto industry, according to the report by the Korea
Automobile Research Institute (KARI).
The institute is affiliated with Hyundai Motor Co., South Korea's top automaker.
U.S. auto sales are expected to gain 8.3 percent from last year to 11.27 million
units this year, while sales in the European market may fall 10.9 percent to
12.91 million units, the report said.
In the report, Park Hong-jae, head of KARI, said global auto sales this year may
be affected by the recall of millions of vehicles by Japan's Toyota Motor Corp.
"After the Toyota crisis, safety issues will become a key factor at a time when
many consumers are likely to replace their old cars," Park said.
He added that global automakers could face slow growth in demand for new cars
amid continued overcapacity worldwide.
(END)

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