Growth in Western markets is expected to decrease but this will be offset by a rise in sales in newly developed markets such as Eastern Europe, Asia and South America. Just this month India’s Tata launched the new Nano minicar, the cheapest car in the world today, and other carmakers are rushing to follow suit.
You only have to look at the numbers to realize that there will soon be roughly one car for every six people. Growth on the American continent is the slowest at 8%, however, compare this with Asia, which is enjoying growth levels of 43%. What this means is that in the future we’ll be seeing a clear shift in focus towards these new markets, perhaps to the point where vehicles will no longer be designed primarily to the tastes of Western markets.