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Key market trends:
Industrial OE and replacement (28.3% of ongoing Group sales) |
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US industrial production declined on average by 10% in 2009. |
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European industrial production declined on average by 14% in 2009. |
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Industrial production in India and China increased by 7% and 12% respectively in 2009. |
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Automotive aftermarket (22.9% of ongoing Group sales) |
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Lower gasoline prices. |
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Miles driven higher in the second half of 2009 compared to the first half of 2009. |
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Destocking appears to be complete. |
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Automotive OE (22.6% of ongoing Group sales) |
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North American auto production declined by 32% in 2009, with global volumes down 13%. |
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North American auto production improved by 46% in the second half compared to the first half of 2009. |
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European auto production declined by 20% in 2009. |
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Auto production in India, China and Brazil increased by 17%, 47% and 2% respectively. |
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