LONDON, July 7 (Bernama-BUSINESS WIRE)-- Euromonitor International released today new data on the global automotive industry. Light vehicle sales grew 3.9 percent in 2014 to reach 85 million units and forecast to exceed 100 million by 2019.
“Asia and the Middle East and Africa represent significant growth potential for small cars as rising incomes allow an ever increasing number of consumers to transition from a motorbike to owning a car for the first time,” said Neil King, automotive analyst at Euromonitor International. “Small cars are forecast to grow 3 percent compound annual growth rate (CAGR) between 2014 and 2030 but this is secondary to the projected CAGR of 4.7 percent for SUVs.”
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