The global automotive market (sales) increased by 3.5% in 2021 (1/2)
- According to Inovev's calculations, the global vehicle market (PC+LCV) increased by 3.5% in 2021, which is lower than the forecasts put forward by Inovev in 2020 (6.5% 2021/2020 see Auto -Analysis 2020-28). According to manufacturers, the semiconductor crisis is responsible for this situation (after a year 2020 marked by the coronavirus crisis), but it is possible that the sharp increase in the average price of cars will slow down purchases and encourage potential customers to keep their vehicle longer. The second half of 2021 was significantly worse than the first half of 2021 (see curve below). Compared to 2019, the global automotive market (PC+LCV) is down 9.5%.
- By country, China has held up better than any other country. The Chinese market (PC+LCV) increased by 3.8% in 2021 compared to 2020 and by 2.0% compared to 2019. The Indian automotive market (PC+LCV) increased by 28% in 2021 compared to to 2020 but fell by 1.5% compared to 2019. The US market (PC+LCV) increased by 3.7% in 2021 compared to 2020 but fell by 11.6% compared to 2019. The Russian market (PC+LCV) increased by 4.3% in 2021 compared to 2020 and fell by 5.3% compared to 2019. The Japanese car market (PC+LCV) fell by 3.3% in 2021 compared to 2020 and by 14.4% compared to 2019. The Brazilian automotive market (PC+LCV) increased by 3.0% in 2021 compared to 2020 but fell by 24.0% compared to 2019. The Korean vehicle market (VP+LCV) fell by 8.8% in 2021 compared to 2020 and by 4.3% compared to 2019. Finally, the European market (29 countries) fell by 1.5% in 2021 compared to 2020 and 25.5% compared to 2019.
- For 2022, Inovev expects a 5% increase in global sales.
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