Last year was a very successful year for car sales worldwide, with a total of 72 million units sold, of which over 22 million were registered in China and over 10 million in the EU. A third of the cars assembled in the world leave the factory gates in China.
Last year, 72.4 million new cars were registered worldwide, which is more than 6 million more than in 2022. In the whole world, the growth was 10%, but there were also countries with an advance of more than 50%: for example, Turkey, Russia and Ukraine.
The data is taken from the latest ACEA (Association of European Automobile Manufacturers) report.
The largest car market is China, where more than 22.3 million cars were registered last year (+4.5% compared to 2022), second only to the US; from 12.3 million (+14%). In the EU, the market grew by 14% to 10.5 million new cars.
Japan grew 15% to 4 million vehicles and India grew 8% to 4.1 million.
In Europe, the four biggest markets were Germany, France, Italy and Spain, which together had almost 7 million vehicles (about 60% of the total in the EU). The distant leader is Germany with 2.8 million cars. Among the very large markets, Italy grew the most: 19%.
If we take into account the large markets outside the EU, Turkey grew the most, by 63% to 967,000 units.
Russia, after an extremely weak 2022, when many European, American and Asian brands exited the market, has grown significantly to over a million cars (up 63%).
According to data, more than 60,000 new cars were sold in Ukraine, which is 60% more than in 2022.
Global car production exceeded 75 million vehicles year-on-year with a steady growth of 10%, according to ACEA data. China surpassed the 25 million vehicle mark for the first time, while Japan with 7.7 million vehicles surpassed the US (7.62 million units). Japan grew by 17%, the USA – by 8%.
In Europe, Germany is the largest producer of cars with 4 million units (+19%). Spain was second with 1.8 million. For the second year in a row, with more than 500,000 cars (Dacia and Ford), Romania ranks sixth among EU manufacturing countries.
India produced 4.7 million cars, South Korea – 3.92 million (+14%). Russia had a small car market of almost half a million cars, which is 10% more than last year.
Photo source: Dreamstime.com
Source: Hot News
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.