ASIA IN DEPTH
A rising middle class and growing economies have driven tremendous growth in the Asian auto industry in the last 10 years. Vehicle sales in Asia Pacific reached 30 million units in 2011, with sales growing nearly 13% annually between 2000 and 2011.
These figures are even more impressive when compared to negative growth in North America and just 1% growth per year in Europe.
The rising trend of auto sales in Asia will continue for at least the next eight to 10 years on the back of this expanding middle class. Potential car buyers in most countries in Asia — here defined as the number of households with annual disposable income over $10,000 — are forecast to grow at a more than 5% annual rate between 2012 and 2020.
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