Tuesday, September 11, 2012

Global auto production and sales up, China sees meteoric rise

Global passenger vehicle manufacturing increased from 74.4 million in 2010 to 76.8 million in 2011. China, the U.S., Japan, and Germany, the top four producers of light vehicles, are responsible for more than half of global output.

According to a report by the Worldwatch Institute, the trend, which projects that 2012 production may hit more than 80 million for the first time, is being led by China and other countries with emerging economies. The passenger vehicle fleet in China grew at an annual average rate of 25 percent during 2000-11, from fewer than 10 million cars to 73 million cars.

Worldwide sales of cars and light trucks hiked from 75.4 million to 78.6 million over the same period, with 81.8 million forecast for 2012, according to Worldwatch senior researcher Michael Renner.

By the end of 2012, the global fleet could be more than 1 billion vehicles, one for every seven people on the planet. Approximately 691 million cars were on the road in 2011. Including trucks, the number soars to 979 million vehicles, 30 million more than in 2010.

Hybrid and electric vehicles are increasing, but stay below 2 percent of total vehicle output. China, for example, intends to put 5 million hybrid-electric and fully electric vehicles on its roads by 2020, but Deutsche Bank analysts say production of 1.1 million EVs and a fleet of 3.5 million in China is more in line with reality.

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