The global automotive market declined by 5.8% in the first quarter of 2019
- The global automotive market (PC+LCV) declined by 5.8% in the first quarter of 2019, compared to the first quarter of 2018. The trend observed during the last quarter of 2018 is therefore continuing at the beginning of 2019. However, the analysis of sales figures shows a noticeable improvement since the beginning of this year. Indeed, from a decline of -11% recorded in September 2018, the world automotive market gradually fell to -8% in January 2019, then to -5% in February 2019 and finally to -4.5% in March 2019.
- Nevertheless, most countries recorded a decline in the first quarter of 2019, except Brazil, which recorded a 10% increase. It is very rare to observe such a large number of countries declining at the same time during a single quarter. The last time such a situation could be found was during the 2008-2009 financial crisis. The OECD forecasts a poor economic situation in 2019, while the automotive market seems to be improving month after month.
- The driving force of the global automotive market, China, fell sharply in the quarter (-11.3%). At the same time, the other two major markets, the United States, and Europe 29 countries, posted a decline of 3.1% and 2.1% respectively.
- By category, there was a sharp decline in passenger car sales (-8.5%) in the first quarter of 2019, but a slight increase in commercial vehicle sales (+1.3%), observed in most countries. This means that the relative lack of confidence of individuals in the future contrasts with some serenity at the companies that are buying commercial vehicles.
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