Global Light-Vehicle Sales to Grow 4% This Year

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.

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

Sales in the U.S. will climb 11% to 14.2 million units in 2012. IHS says sales will rise 7.5% to 18.9 million vehicles in China and 8.5% to 3.2 million in India. The firm forecasts that volume in Japan, which is rebounding from last year's earthquake, will surge more than 20% to nearly 5 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 firm anticipates that volume in western Europe will advance 3% and jump 9% in central and eastern Europe.

The main exceptions next year will be the U.S., where sales growth 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% to reach 105.4 million units by 2019.