The global automotive market grew 2.8% in the first 10 months of 2017
- The global automotive market (PC + LCV sales ) increased by 2.8% over the first 10 months of 2017, to 76.43 million units, a figure which confirms a slowdown in the growth of the automotive market, since in 2016 it had increased by 4.6%. Growth has thus shrunk by almost half from one year to the next.
- The main cause of this decline in growth is the slowdown in the Chinese markets (+ 3.0% over 10 months 2017) and US (-1.7% over 10 months 2017) which are the top two worldwide markets ( together constituting 47% of the world market).
- Added to this is the decline in the UK market (-4.4%), which is the eighth largest market in the world, the decline in the Saudi market (-25.6%), the result of an unfavorable economic climate (following lower oil prices), the decline of the Algerian market (-20.9%), the decline of the Egyptian market (-44.4%) as well as that of the whole of the United Arab Emirates: Dubai (-17.7% ), Abu Dhabi (-17.8%), Oman (-21.3%), Qatar (-22.8%), Bahrain (-29.7%) following the trend of the Saudi market.
- At the current pace, the global market (PC + LCV) could reach 92 million units over the whole of 2017, against 89.5 million over the whole of 2016.
- Including trucks and coaches (4 million units sales per year), the global automotive market could reach 96 million units in 2017, against 93.5 million in 2016.
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