Industry Trend Analysis - Asia Autos: A Global Outperformer - MAY 2017
BMI View: Asia will be the second-fastest growing market for vehicle sales in 2017, but with consistent growth rather than the bounce-back of Latin America, which will be the only region with stronger growth. The region will reflect the global trend for emerging markets to outperform their developed counterparts.
We forecast total vehicle sales in the Asia region to grow 3.7% in 2017, easily surpassing our forecast for global growth of 2.3% and second only to Latin America, where we forecast sales to grow 6.2%. This follows a particularly strong year in 2016, when sales grew 9.4%, making it the fastest growing region globally and reflects natural growth in the region, rather than the bounce-back that we're seeing in some other regions.
In terms of vehicle segments, the marked outperformance of the Asian passenger car segment, which grew 10.3% in 2016, compared with 5.0% for the commercial vehicle (CV) segment, will be reversed. We do not expect such a marked discrepancy between segments in 2017, however, forecasting growth of 4.4% for CV sales, compared with 3.6% for passenger car sales.
|Asia Showing Consistency|
|Vehicle Sales Growth By Region (% chg y-o-y)|