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January 23, 2006 As the economies of China and India continue to grow at an unprecedented rate, they are rapidly emerging as vast markets for consumer goods in addition to their now-established roles as producers and providers of goods and services. This is particularly true of the global motor vehicle industry. In an important analysis conducted by Keystone India, a member of Kinsella Group's network of affiliates, Dr. William T. Wilson and Vikas Gulabrani draw attention to this economic shift. Among other key points, they note that: By 2017, China is projected to become the world's largest market for motor vehicle sales, surpassing the United States. By 2030, global motor vehicle sales are expected to almost triple from current levels, with China and India dominating this transition. By 2030, global production capacity will need to double in order to meet this increased consumer demand. Kinsella Group believes that this white paper offers important information for any business interested in trade between North America and China. The global auto industry is a key indicator of future economic trends - as per capita income, income elasticity, population and ownership propensity grows across the developing world, so to will consumer demand and cross-border trade. |
