Asia, N. America Drive 4% Growth in Global Sales

Worldwide car and light truck sales will expand by 2.9 million units to 78.5 million vehicles this year, led by strong demand in China, North America, Japan and India, IHS Automotive predicts.

The research firm expects sales to rise 7.5% to 18.9 million vehicles in China and 8.5% to 3.2 million units in India this year. IHS says volume in Japan, which is rebounding from last year's earthquake, will surge more than 20% to nearly 5 million vehicles. Sales in the U.S. are likely to surge 11% to 14.2 million units.

Europe's financial woes will cut sales by nearly 7% in the west and 3% in the central and eastern regions this year, the firm forecasts. It says demand in Russia will advance about 1% to 2.7 million units.

IHS expects global sales of light vehicles in 2013 will climb more than 10% to 83.2 million units as demand accelerates in most major markets. The main exceptions are the U.S., where the growth rate will slow to 4.7% (14.9 million units), and Japan, where IHS says volume will shrink 6% to 4.6 million units.

The firm predicts global light-vehicle sales will expand at a compound annual growth rate of 4.2%, reaching 105.4 million units by 2019.