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publication date: Sep 10, 2010
Ford believes the global automotive market will expand by 5 percent to 10 percent in 2010 as the worldwide economic recovery takes hold. Asian markets, where growth is moderating, remain strong, John Fleming, Ford's head of global manufacturing and formerly its top European executive, said today in a webcast. In Europe and the U.S., consumer spending will revive slowly from "below- trend" levels as central banks offer cheap credit to encourage buying, he said. Car sales in the 17 markets of western Europe fell 14% from August 2009 to 664,800 units last month, says J.D. Power and Associates Automotive Forecasting. The California-based firm reiterates its forecast that full-year sales in the region will be 12.7 million, down 7% from last year's total. Power predicts that sales in western Europe next year will slip 1.4% to about 12.6 million units. Demand for passenger vehicles in Russia surged to 168,600 units last month compared to a very weak 111,700 units in August 2009, reports the Association of European Businesses in Moscow. Sales have been strong since May, when the government's 10-billion-ruble (€255 million) scrappage program gained momentum. The program, which began in March, pays consumers 50,000 rubles (€1,300) to scrap a car that is at least 10 years old and replace it with a new Russian-made model. Italy is prepared to block a free trade agreement (FTA) between the EU and South Korea unless it gives European carmakers a year to prepare for the lowering of trade barriers. Meanwhile, the European Parliament is flexing its new legal muscle on the deal. The FTA ends import barriers for South Korean cars in the EU in either three years (for high and medium-powered vehicles) or five years' (small cars) time, causing alarm in major car-producing EU countries. Prices for the new Caddy and Caddy Maxi have been announced. They start at £12,100 excluding VAT for the 1.6-litre 75 PS TDI Caddy van while the Caddy Maxi starts at £14,050 excluding VAT for the entry-level model equipped with a 1.6-litre 102 PS TDI engine. |
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