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World Auto Sector to Stay in Red Until 2005, Survey Predicts

News, 09 January 2003

Another two years of losses are on the cards for the world’s auto sector, judging by a new survey from KPMG.

The study polled 100 bosses of carmakers around the globe. About 57% of those in North America and Europe do not expect to return to profit until 2005. Just 8% anticipate moving out of the red in 2003, down from 54% in the last survey.

The news comes despite positive end-of-year sales figures in the US [WAMN: 06-Jan-03] and a new report from the UK Society of Motor Manufacturers and Traders showing that Britons bought a record total of over 2.56 million new vehicles last year.

Data sourced from: Times Online (UK); additional content by WARC staff