A new report from auto industry analyst Scotia Economics predicts that global auto sales will rebound in 2010 and show strong growth after one of the worst years in history in 2009. Automotive News reports:
Auto sales will gain momentum worldwide in 2010 on the back of better access to credit and a return to 3 percent growth in the global economy, setting the stage for record volumes in 2011, according to the latest industry forecast from Scotia Economics.
China, which became the world’s largest auto market in 2009, will lead the way, along with India and Brazil, but the U.S. market will also see a double-digit advance, according to the report, which was released today.
“Global car sales will continue to be buoyed by the ongoing massive and synchronized monetary and fiscal stimulus, which has generated a global economic recovery, including improving auto lending across the globe,” said Carlos Gomes, senior economist at Scotia Economics.
That should translate into real economic gains in Michigan, which is still highly dependent upon the auto industry for jobs. Consistently higher sales over the next year would almost certainly mean ramped up production for the Big Three and more auto workers being called back to work.