Asia-Pacific to Become Largest Auto Mart by '09

Tokyo, Aug 24, 2007; Jiji Press reported that the Asia-Pacific region is expected to become the world's largest automotive market by 2009 on strength in China and India, a U.S. research company said Thursday.

"By 2009, the Asia Pacific region is expected to net 23 million sales, compared with 22.7 million sales in Europe," J.D. Power and Associates said. North American sales are projected at 19.6 million units, it said.

"Steadily rising incomes in the Asia Pacific region will make vehicle ownership possible for more consumers in those areas, and we expect China and India to remain the forces that drive future global growth," Jeff Schuster, executive director of forecasting, said.

For 2007, the company estimates Asia-Pacific sales at 19.3 million units, those in Europe at 21.6 million units and those in North America at 19.2 million units.

By 2014, Asia-Pacific sales are projected to reach 31.9 million units, or 36 pct of the world's total, up from 28 pct in 2007.

Sales in China are expected to expand at an annual average of 12 pct between 2007 and 2014, reaching 16.3 million units in the period. Sales in India are projected at 3.0 million units and those in Japan at 5.9 million units.