Global auto industry recovering: report

• Source: Xinhua
• [08:08 August 03 2009]
• Comments

The global auto industry is starting to recover from months of declines, pushed by strong demands in such countries as China and Germany, a Canadian report said on Friday.

The global auto sales of the second quarter reached 48 million units, up from an eight-year low of 43 million units in the first three months of the year, with sales in June reaching the highest level on record since last July, the Scotia Economics, a publication of Canada's third largest bank Scotia Bank, said.

China posted the highest sales figures in developing countries and Germany reported the best numbers among mature markets, the report said.

The bank foresees the revival will soon spread to North America, which will boost economic activity.