Global Demand for Light Vehicles to Grow 4% in 2012

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.

Sales in the U.S. will climb 11% to 14.2 million units in 2012, according to the research firm. Demand will rise 7.5% to 18.9 million vehicles in China and 8.5% to 3.2 million in India. IHS says volume in Japan, which is rebounding from last year's earthquake, will surge more than 20% to nearly 5 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 says 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 expects demand 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.