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Asia is overtaking the United States as the largest market for auto sales, but the US will remain the more lucrative market for the next decade, a senior executive at General Motors told news agency AFP today.
Overall industry sales in the Asia Pacific region are expected to surpass North America for the first time this year as they approach 21 million vehicles, said Paul Ballew, director of GM's global market and industry analysis.
US sales are currently on pace to reach between 16 and 17 million vehicles this year.
Growth in China, India and other emerging markets will push global auto sales to a record 70 million vehicles this year, Ballew said.
