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Global Vehicles in Operation Projected to Top 1 Billion by 2011
24 January 2008
The number of vehicles on the road globally will top 1 billion by 2011, according to figures released by R. L. Polk & Company.
The heavy growth will be fueled primarily by the rapidly expanding Asian market, which will see 5.7% compound annual growth in vehicles in operation (VIO) in the next three years.
Growth in the Asian market will be volatile in the next three years, but is still likely to lead growth worldwide. Obviously, Asia has been a burgeoning market for some time and global manufacturers are in a heated race to take advantage of opportunities in the region.
—Stephen Polk, Chairman, President and CEO of R. L. Polk & Co.
Asia will account for more than 23% (231 million vehicles) of global VIO by 2011. Europe and the Americas will account for 34% and 36% of global VIO by 2011, respectively.
Traditional markets—the Americas and Western Europe—will continue to see approximately 1.3% and 2.0% compound annual growth respectively, in the next three years.
Despite the rapid growth in Asia, it is still imperative for automakers to focus on North America and Europe. Even with sluggish signs in the economy, these are still growing markets, with a passion for the automobile. Winning here is essential for any automaker’s global success.
—Stephen Polk
Polk also noted that Eastern Europe will continue to expand at a rapid pace, with 4.3% compound annual growth in VIO by 2011.
January 24, 2008 in Brief | Permalink | Comments (4) | TrackBack (0)
Comments
Posted by: sjc | January 24, 2008 at 08:24 AM
clearly yes there is a limit to all this, 2011 : 1 billion car on the road (that's a 20% increase compared to today, reach of a plateau in the world oil production, level of debt historicaly high = back to the 70s, stagflation during 15 years, time during which the consumption of car will to drop by 30%, development of public transportion, coal to liquid, increase of production of oil from Tar Sand, etc...
Posted by: Treehugger | January 24, 2008 at 09:27 AM
High carbon tax on all fossil fuels and to a lesser degree on 'cleaner' biofuels.
Much higher purchase tax and registration fees on all fuel guzzlers.
Use those new revenues to accellerate the transition to electrified (HEVs, PHEVs and BEVs) transportation vehicles.
Posted by: Harvey D | January 24, 2008 at 03:52 PM
Popultion pressures are out there, Have been on a severe trajectory for some time. Only now we all seek all the trappings, as you do, so the planning should be about reducing the pressures, preserving civil society and getting this fundamental factor into balance.
This is anathema to many religious (and economists)beleivers but must be up there with the mny other serious questions or problems in need of proper consideration. How is it that so many of the issues transform to another unspeakable.
Posted by: arnold | January 24, 2008 at 09:25 PM
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That is a lot of barrels of oil and gallons of fuel. There obviously is an end point to all of this and I think most people that give it even a moment of thought realize that.