« Global Fiber Optic Sensors Market to Cross $650 Million by 2010, According to New Report | Main | Flat Glass Market Sparkles with Demand Expected to be Over 39 Million Tons by 2010, According to New Report »
June 28, 2007
Asia-Pacific Car Sales Racing Towards the 10-Million Mark, According to New Report
According to a recently released market research report published by Global Industry Analysts, Inc., passenger car sales in Asia-Pacific are likely to touch the 10-million mark by 2008. Global sales of passenger cars are likely to register a compounded annual growth rate of 3.3%, to cross the 50 million units milestone by 2010. Europe, the largest market accounts for nearly 38% of the global market. Global passenger car production is projected to grow at a compounded annual rate of 3.6%.
San Jose, California (PRWEB) June 28, 2007 -- Globalization and rationalization contribute their own share of problems in any industry and the global passenger cars market is no exception. Passenger car industry continues to be plagued by overcapacity issues, maturing United States and Japanese markets, currency exchange fluctuations, and global oil price hikes. Increased competition coupled with relatively shorter product life cycles of new passenger cars frequently flare up price wars between global players, cutting into the industry's profits. Worldwide, manufacturers are under pressure to cut production costs to stay competitive or even to ensure survival in the passenger cars market.
Some of the most populous countries with large sections of middle-class consumers are proving to be the hotbed of global passenger car industry. With rising income levels, growing employment opportunities and robust economic conditions, emerging markets such as India, China, Vietnam, Indonesia, and Mexico are proving to be a boon for the passenger car market.
Technology is driving the global automobile market to new heights as major players engage in a battle for market shares. These players are increasingly positioning the incursion of electronics into their automobiles as a competitive platform. Major automobile manufacturers such as Toyota, GM, Ford, DC and BMW are increasingly building electronic components into their automobiles, forming a sort of protective cocoon around passengers. Rear-seat entertainment centers and other mobile multimedia applications enable motorists to access e-mail and other conventional computing services.
Leading players in the passenger cars market include Toyota, General Motors, Volkswagen Group, Ford, Honda, PSA Peugeot Citroën, Hyundai, Nissan, DaimlerChrysler, Suzuki-Maruti, Fiat, BMW, Mitsubishi, Chery Auto, Tata.
The report titled "Passenger Cars: A Global Strategic Business Report", provides an extensive review of market trends, drivers, players and competition among others. The report also offers profiles of leading players and presents recent developments, mergers, acquisitions, as well as other strategic industry activities. The study analyzes sales and production of passenger cars. Detailed analysis is provided for major geographic markets including United States, Japan, Germany, UK, China, India, Korea and others along with emerging markets such as Latin America, Middle East, Russia, Thailand, Indonesia, Malaysia, etc.
For more details about this research report, please visit www.strategyr.com/MCP-4103.asp
About the company
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press @ StrategyR.com
Web Site www.StrategyR.com
Posted by Industrial-Manufacturing at June 28, 2007 09:59 PM