Summary: Comparison of passenger automobile sales in major worldwide markets in 2012

Gasgoo.com (Shanghai) - According to statistics collected from Gasgoo.com (Chinese), passenger automobile markets in emerging markets managed to sustain steady sales growth rates in 2012. Japanese and American market growth rates were also positive, while the European market continued to suffer.

Statistics show that financial crisis in 2009 severely influenced growth in passenger automobile markets in the US, Europe (comprised of 27 key European Union and European Free Trade Association countries) and Japan, with their sales for the year totaling 10.4 million units, 14.48 million units and 2.64 million units, respectively. The three markets all reported negative year-on-year growth rates that year, with the US' negative growth rate of 21.2 percent the most severe.

However, in the following years the three markets diverged significantly. Following the financial crisis, Europe was hit by the euro credit crisis, which has prevented its automobile market from recovering, with year-on-year growth rates remaining under zero percent. A total of 12.05 million vehicles were sold in Europe in 2012, the lowest sales figure recorded in 17 years.

By comparison, the US passenger automobile market was able to recover very quickly from the financial crisis, thanks to a combination of government grants and favorable market conditions. From 2010 to 2012, the American market was able to constantly sustain double digit growth rates.

The Japanese market also managed to recover very quickly, with growth rates reaching 10.9 percent in 2010. However, the Fukushima earthquake and rising value of the yen crippled the Japanese market the following year, with passenger automobile sales plummeting 18.5 percent in 2011. The country showed signs of strong recovery in 2012, with sales growth rates exceeding 26 percent.

The four BRIC nations–China, Russia, Brazil and India–all reported steady sales growth rates in their passenger automobile markets in 2012. Sales in China, Russia and Brazil's markets increased 7.6 percent, 10.6 percent and 9.2 percent, respectively. India's growth rate for 2012 is expected to also be close to those numbers.

Due to the phasing out of stimulatory policies and changing market conditions, growth rates in the Chinese passenger automobile market decreased from plus-30 percent figures in 2009 and 2010 to sustainable high single digit numbers in 2011 and 2012. India's market followed similar trends, decreasing from 25.7 percent in 2009 and 28.2 percent in 2010 to 4.7 percent in 2011. Russia, meanwhile, suffered heavily from the financial crisis in 2009, with its sales falling nearly 50 percent. The country recovered quickly, posting sales growth rates of in the double digits over the next three years.