Retail in Asia

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Asia to lead global auto output rise of 3pc

A global auto industry group forecast on Wednesday world vehicle production will rise by 3 percent this year, in line with 2011, although carmakers warned that European demand would likely remain weak. Production in Europe was expected to fall in 2012, but Chinese output would rise by 8 percent, production in India by 14 percent and output in Japan would also rise, according to the International Organisation of Motor Vehicle Manufacturers.