Just as the emerging markets proved the saviour of the big banks this week, so car manufacturers will be hoping that the developing countries continue to be their salvation.
This week's Geneva Motor Show shows more than ever that traditional manufacturers are increasingly reliant on the new markets to bolster their flagging fortunes.
With traditional markets in the United States and Europe flattening, the surging demand within the BRIC countries - Brazil, Russia, India and China - is helping to keep the global picture much rosier.
Predictions are that total vehicle sales will be around 73 million this year - an increase of 3.5 per cent - with almost 30 million finding their way into emerging markets.
Within the next decade China is expected to overtake the US as the largest single vehicle market, while domestic growth in India is likely to be significant due to the launch later this year of Tata Motors' Nano, at £1,250 the cheapest four-door car available.
Canny manufacturers are already developing their own production facilities in the region, attracted by low costs and high returns.
Fiat announced last week that its subsidiary Fiat India Automobiles would be launching its Linea family car in India by September this year.
FIA's chief executive Rajeev Kapoor said production of the car would begin at the Ranjangaon manufacturing facility it shares with Tata Motors in August.
Tata is expected to begin selling the Nano around the same time.
FIA is a 50:50 joint venture between Fiat and Tata Motors and has a capacity to manufacture 100,000 cars and 200,000 engines and transmission parts at the Ranjangaon plant, which is situated near the western Indian city of Pune.
Mr Kapoor said the Ranjangaon facility, which produces engines, would start making transmission powertrains by June.
President of passenger cars for Tata Motors, Rajiv Dube, said the company planned to use Ranjangaon to roll out its own cars from early 2009.
Mr Dube added that Tata, India's largest vehicle maker, had also submitted an expression of interest to the Thai govern-ment to set up an eco-friendly car project there.
Not to be outdone, and mindful of the direct competition from Toyota and Honda, Nissan has also announced that it will be developing a production facility in India.
The company has signed a Memorandum of Understanding with the government of Tamil Nadu stating its intention to build a £575 million factory in Oragadam, near Chennai.
The project, a 50:50 joint venture with parent Renault, is intended to have the capacity to manufacture 400,000 vehicles a year once production gets under way in 2010.
Renault has been selling its award-winning Logan in India since May last year with local partner Mahindra & Mahindra.
Carlos Tavares, Nissan vice president, said: "India is a significant part of Nissan's global expansion plans.
"We are eager to build and deliver products that meet the needs of the Indian market. At the same time, we see India as another export base that will allow Nissan to be competitive in the global supply chain network."
Analysts believe that the market within China is about to undergo change with the initial boom in the small car sector stag-nating as aspirations rise within the country. According to industry figures, sales of micro and sub-compact cars were flat last year and sales of small-engined vehicles fell more than 20 per cent.
It appears that Chinese consumers are becoming more interested in status and expect their car to reflect this.
This could be bad news for the green lobby, which is opposed to higher polluting cars but manufacturers are bound to rise to demand and so the mid-range sector could be the next growth area.