Auto Industry Relies on CHINDIA – Analyst Blog
Source: http://www.zacks.com/stock/news/20104/Auto+Industry+Relies+on+CHINDIA+-+Analyst+BlogPosted on Tuesday, May 12th, 2009 | In Market Commentary, Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -
CHINDIA Continues to Lead World Auto Industry Out of Slump
Indian sales of cars were up for the third month in a row, being up 4%. Lower interest rates and government stimulus continues to drive growth. Suzuki sales were up 8%, and is the fastest growing brand in India. Consumers are fuel-price sensitive. Trucks and buses were down 11%, while motorcycles were up 12%.
Chinese sales were up 37%, driven by tax breaks to promote smaller cars. China is now the largest new car market in the world.
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