2012 is expected to see a healthy year of growth for the automotive industry as it climbs by 4% in a year on year comparison.
Countries such as Brazil and Russia are expected to see their car sales soar by 5% and 8% respectively.
Thailand also reported that January represented a four-month high for car production rising to 140,404 units.
French manufacturer Renault revealed promising figures for the 2011 financial year including group revenues of €42,628 million, a 9.4% increase compared to figures for 2010.
The brand also announced that operating income had risen from €635 million in 2010 to a current high of €1,244 million.
Contribution of associated companies totaled €1,524 million, in comparison to a lower figure of €1,289 million in 2010.
“The big success in the Renault strategy and model range is reflected in the strong revenue increase in relation to the volume increase,” said Albrecht Denninghoff, a Frankfurt-based Silvia Quandt Research analyst.
The UK car industry is also experiencing moderate growth in 2012. Car sales increased by 0.03%, or 42 cars, to 128,853 in January. This figure includes a 2.7% rise in private sales to consumers, presenting an upward trend when compared to the 14% dip in 2011.
Commenting on the UK figures Howard Archer, chief UK economist at IHS Global Insight, argued that the figures still proved positive for the UK car industry:
"The modest increase in private car sales in January lifts hopes that consumer spending may hold up better than feared in the early months of 2012 and thereby help the economy return to modest growth and avoid recession after GDP contracted 0.2pc quarter-on-quarter in the fourth quarter of 2011."
Car manufacturers including Nissan and Toyota announced that they will be pumping millions into their production levels in 2012, a move that Prime Minister David Cameron strongly approved of:
"The automotive sector is leading the way in helping us achieve this -- it is an extraordinary success story," he said as Toyota committed to building its new generation C-segment family hatchback model in Britain, creating 1,500 jobs at its car plant in Derbyshire.”
In contrast to the picture for sales car manufacturing in the UK rose by 15.6% in January to reach 127,382.
