The New Nation - Internet Edition

AFP, Paris

The world auto sector, after suffering a sharp decline this year, is set for a 5.0 percent sales rebound in 2010, a study forecast yesterday. The IHS Global Insight research group said sales in 2009 were likely to plunge 14 percent, after a 5.0 percent decline in 2007- 2008, before rising by 5.0 percent in 2010 and by double digits in 2011. IHS Global Insight chief automobile economist Nigel Griffiths said the global economy and the auto market were no longer in free fall, with a pickup in sales and production expected to become evident around the middle of next year. The turnaround, according to the study, would be aided by government support measures for the industry, such as tax incentives and bonuses for scrapping old vehicles and buying new ones.