Worldwide Light Vehicle Sales to Grow 3%

Global demand for passenger cars and light trucks, which rose 5% to 81 million units in 2012, will climb to 83 million units this year, LMC Automotive predicts.

The forecasting firm expects demand in China, which grew 4% in 2011 and 6% last year, to jump 10% to 21 million vehicles as the country's economy improves. Overall volume in Asia Pacific is likely to increase 5% to 35.3 million units with expansion in India and Indonesia and declines in Japan and Thailand.

U.S. sales will advance 4% to 15.1 million vehicles, cooling from its 14% growth pace last year, LMC forecasts. It says North American demand will climb 5% to 17.8 million vehicles in 2013.

Registrations in western Europe, which fell 9% last year, will slide 3% to 12.7 million vehicles in 2013, according to the firm. It warns that inventory accumulation caused by overcapacity may "haunt" a number of the region's carmakers this year.

Eastern Europe has fared better, thanks in part to an 11% sales gain in Russia last year. But LMC cautions that the region's growth may slow this year. As a result, volume across Europe will dip 2% to 17.7 million units, the firm projects.