Passenger car sales in Western Europe are set to drop to 11.2 million in 2010 from a projected 13.9 million this year. Goldman Sachs expects sales to rebound to 11.5 million in 2011.
Eastern Europe will fall to 2.3 million units in 2010 from 2.9 million this year. Sales will pick up to 2.4 million units in 2011.
The outlook for emerging markets is bleak. Russia will decline to 2.7 million in 2010 from 3.3 million units this year. Brazil’s sales will slump 20 percent to 2.4 million in 2010. China will post stable sales at about 8.8 million units in the 2008 to 2010 period.
India will decline from 1.8 million this year to 1.5 million in 2010.