Both industry forecasters IHS Automotive and LMC Automotive (formerly JD Power Automotive Forecasting) estimate that global sales of cars and light trucks will have grown by around four percent year on year to 75 million units in the current year, hitting an all-time record high, as reported by the London-based Financial Times.
The two forecasters expect that car sales and output will grow further next year, but have revised downwards their estimates in view of worries about the impact Europe's debt crisis will have on demand.
Eastern Europe, including Russia and Turkey, is reported the fastest growth in car sales in 2011, followed by South America, according to IHS. The recovering car market in the US, up nine percent year on year, grew faster than China's softening market which indicated five percent growth year on year.