Global Auto Sales Likely to Set New Record in 2013
Global automotive sales will likely set a new record in 2013 according to a new report by Scotiabank.
“We expect continued gains in the second half of the year supported by low short- and long-term interest rates around the world, strengthening global job creation and improving financial market conditions which have propelled several equity market indices to record highs,” said Carlos Gomes, Senior Economist and Auto Industry Specialist for the bank.
China is leading the way with a 20% improvement so far this year. North American purchases are also rising with Canadians about to beat their own record in 2013 as well.
Among other countries with strong sales, Brazil hit a record for the month of May but has since levelled off. High inflation and rising interest rates are to blame.
