The global automotive market declined by 0.3% in 2018
- The global automotive market (passenger cars + light commercial vehicles) fell by 0.3% in 2018 to 92.9 million units from 93.2 million units in 2017. This is the first time since 2009 that the global automotive market has declined.
- It turned negative from September 2018 onwards, when the Chinese market (the world's largest automotive market), fell by more than 10% between September and December, while the European market (the world's second largest automotive market), fell at the same time, largely due to the not always well prepared upgrading of newly marketed models to WLTP standards.
- In addition, other markets, such as Canada, Mexico, Argentina, Turkey, Australia, South Africa and countries in the Middle East, including Iran, also experienced a sales decline in the fourth quarter.
- The global automotive market therefore fell by 5% to 10% between September and December, and 2019 looks difficult, as the United States is expected to experience an automotive market decline this year.
- This trend is part of a slowdown in global growth, which can be explained in particular by the trade war between China and the United States, the new economic sanctions against Iran, but also by localized debt crises. Only India, Brazil and Russia are still making progress.
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