The global automobile industry might lose the last hope for surmounting the crisis. The car sales didn’t go up in the better part of the BRIC nations in August.
Photo: Alexey Kudenko
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Automobile Market Applies the Brake
The global automobile industry might lose the last hope for surmounting the crisis. The car sales didn’t go up in the better part of the BRIC nations in August. That month was the most disappointing one in the industry’s history, and the experts are yet uncertain whether the recovery will happen before the year-end.
China’s Association of Automobile Manufacturers released the data on the car sales in August. The decline reached 6.24 percent and it was the first decline on China’s automobile market from 2005. What’s more, China was not the only nation of BRIC (Brazil, Russia, India, China) that suffered from the drop in the car sales. The sales in India shed 1.41 percent and Russia sank 0.15 percent, while Brazil posted the healthy growth of 4 percent.
Automobile sales in Western Europe sank 16 percent in August, under the estimate of JD Power Automotive Forecasting.
The decline in the BRIC sales of cars doesn’t inspire optimism. It signals the global automobile community is losing the last hope to sort out the crisis. Leaders of biggest car giants, including GM, Ford, Chrysler, Toyota, Renault-Nissan, tend to speak from time to time about the problems on traditional markets and their hopes for the business development in BRIC.
But the poorer performance on the markets of most developed emerging economies is probably of temporarily nature. China is likely to post the growth already in September, when the car makers start offering new models and launch special promotion actions. The sales will step up in the long-term, but their pace won’t be so accelerated, the analysts predict.
www.kommersant.com
All the Article in Russian as of Sep. 11, 2008
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