The auto industry’s “Last Frontiers” around the globe are in four regions spread across South America, Africa and Asia where car sales will grow faster than in China between now and the end of the decade, according to a new study by the Boston Consulting Group (BCG).
Car sales are set to explode in the Andes Region, North Africa, the Middle East – where Iran and Saudi Arabia are poised to become substantial markets – and in Southeast Asia where Indonesia vehicle sales are growing.
All four regions have been scared over the years by terrorism, cycle of economic boom and bust and acute poverty. Nonetheless, the economies in all four regions are expected to grow at a pace that will sustain rapid growth in car sales, noted Xavier Mosquet, senior partner in charge of BCG’s Detroit office. (more…)