Jump to content
  • Greetings Guest!

    CheersandGears.com was founded in 2001 and is one of the oldest continuously operating automotive forums out there.  Come see why we have users who visit nearly every day for the past 16+ years. Signup is fast and free, or you can opt for a premium subscription to view the site ad-free.

Sign in to follow this  


Recommended Posts


By Drew Johnson

The global auto market may have showed signs of recovery and even growth during the first half of 2010, but economic concerns and the end of government subsidies are threatening a strong finish.

Although United States auto sales are still up for the year, August sales slumped to the month’s lowest tally in 28 years. Sales are expected to continue to sag for the rest of the year, largely due to rising unemployment rates.

“The U.S. economy is looking downward, with high unemployment, mounting bankruptcies and other indicators that don’t paint a pretty picture,” said Yuuki Sakurai, chief executive officer of Fukoku Capital Management Inc. in Tokyo.

In China – the world’s largest car market – sales are also beginning to cool as government subsidies expire. China recorded an 18.7 percent sales growth in August, which was well off the 90 percent increase seen in August 2009.

The European market continues to be volatile, but automakers are seeing some positive growth in Russia and India. However, those markets remain relatively small and make up just a small percentage of global sales.

According to the latest forecast from J.D. Power & Associates, worldwide auto sales will grow by 10 percent this year to 70.4 million vehicles, but that growth rate will slow to 7.1 percent in 2011.



Share this post

Link to post
Share on other sites

Your content will need to be approved by a moderator

You are commenting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets



Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.