BOCHUM, Germany ”“ Global passenger-car sales, helped by strong growth in new markets, will show a steady rise in coming years to total 92.5 million units by 2025, according to the CAR Â Center Economic Research of the University Duisburg-Essen in Germany.
Ferdinand Dudenhoeffer, who head the automotive think tank, said sales will grow 57 pc from 2010 levels , led by China and other new markets. Sales in China are forecast to soar 163 pc to 29.6 million by 2025. Another major developing market, he said, would be India, where sales are expected to jump 181 pc to 6.7 million units.
Global sales growth will be led by an expected 11.3 pc annual growth in the sale of ultra-low-cost cars, while premium model sales are seen rising 5.4 pc a year. Dudenhoeffer predicts the volume segment to grow 2.2 pc a year over the next 13 years.
Dudenhoeffer provided the forecast at the Car Symposium, an annual automotive conference.
Speaking at the event, TataMotors CEO Carl-Peter Forster said the Indian auto industry is well-positioned to become a global powerhouse in the production of small cars. He concurred with expectations that the Indian market would grow rapidly in the next decade.
“The chance that there will be a gigantic Indian car market is very high,”he said, citing high pent-up demand for motorized transportation.
Forster acknowledged major transportation infrastructure problems in India, but added: “I don’t think this will have a massive impact on growth.”