Last year world car market went first time ‘in minus’ in 7 years of its growth


January 25, Fineko/ The world car market decreased by 0.5% to 94.79 million passenger cars and light commercial vehicles by the end of 2018.

Agency AUTOSTAT reports that according to consulting company LMC Automotive, a negative result has been recorded for the first time since 2009.

The leader position on car sales has been kept by China, where 27.732 cars were sold last year (-3.1%). China is followed by the U.S. global car market with an indicator of 17.29 million cars (0.6%).

Car markets in Western Europe remained almost at the same level and amounted to 16.15 million cars. After introduction of the WLTP new rules, demand for new cars has fallen over the past four months, and that led to zero dynamics at the end of the year. Car sales in Eastern Europe amounted to 4.243 million cars - 0.5% more than in 2017. It should be noted that the Russian car market ended last year with a 13% rise, showing positive dynamics for the second year in a row.

In South America the local dealers sold 3.245 million cars (7.1% more versus 2017). Among the world's largest car markets are also Japan (5.2 million cars, +0.8%), Canada (2.018 million cars, -1.2%) and South Korea (1.18 million cars, +1.4%).