Global car sales report for October revealed

Global car sales report for October revealed:

Global car sales have a big chance to set another record year. This extends gains to a seventh consecutive annual record and surpasses the previous upcycle which lasted six years.

Purchases will be buoyed by improving labour markets at the fastest pace since early 2007 and a bottoming in purchases across emerging markets. Economic growth in developing countries is expected to pick up for the first time since 2010, helping reverse last year’s slide in car sales which was driven by sharp contractions in both Russia and Brazil. Low gasoline prices, improving household balance sheets and rising incomes will also help lift sales.

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