Largest Car Market

Local manufacturing 2007 to more than 11.5 million is becoming a factor of success for emerging Bonn/Essen, which increased demand for cars in the so-called BRIC countries (Brazil, Russia, India and China). China becomes the world’s largest car market. The above-average growth rates are a result of the tightening of the domestic economy and the dynamic development of the income. And also establishing its own production in the emerging economies is becoming a success factor. These are the results of a recent study on global growth markets of the Essen marketing research and consulting firm R.

L. Polk. According to analysis by Polk showed the car markets in India and Russia once again rapid growth rates of 11 and 31 percent, respectively. The Chinese car market led the Quartet with nearly six million vehicles in 2007, followed by Russia, which has crossed the two million mark for the first time. Lead in particular significantly increased incomes as a result of the robust economic development and the improved possibilities of vehicle financing to the strong growth in the markets.

In the coming years be can the BRIC countries to develop positively and settle many established markets in terms of demand for cars”, said Gunnar Gaedke, consultant of market analysis, planning & forecasting at the consulting firm of Essen. For the development of the manufacturer, the importance of local production as an important success factor out have crystallized. As a result to show that the former dominance of the domestic manufacturers like LADA in Russia or Maruti in India will breached by massive investment in new production facilities for foreign companies. In the long term only every third vehicle will be produced by domestic manufacturers. Polk’s market researchers are convinced that the current development in the future will continue. By the year 2015, demand in the four markets will rise and only ten years more than doubled on over 20 million cars. A majority of the vehicles sold will fall on the low-cost segment, the the In the BRIC markets, entry into the motorized world allow first-time buyers. This development will not without consequences for the automotive nation”Germany remain, so the emerging markets expert Jorg Peisert. In the long term is to be expected with a downsizing in the automotive sector. This can compensate for only Germany, by the German manufacturers increasingly invest in technical innovations. As for premium vehicles in emerging markets about 60,000 new jobs arising from stronger demand estimates by experts in Germany. If the auto industry remains on an important job engine in this country, will depend greatly, to what extent the entry into emerging markets succeed in Audi, BMW, Mercedes, Volkswagen and co..”