The global automotive market grew by 2.3% in 2017
- The global car market (PC + LCV) increased by 2.3% in 2017 compared to 2016, with an estimated volume of more than 96 million units (compared to 93.85 million units in 2016).
- This growth is two times lower than in 2016 compared to 2015, as the first three car markets, China (+ 3%), the United States (-2%) and Europe (+ 3%) slowed down in 2017, which had an influence on all registrations, since these three markets alone account for two thirds of worldwide registrations.
- The top 20 auto markets remain the same as in 2016, except for Russia and Iran, which each move up one step in the ranking thanks to sharp increases. In contrast, Mexico and Spain fall back one step, as well as Turkey and Thailand.
- In 2017, China (+ 3%) increased its lead over the major markets, in terms of number of registrations, since it exceeds 29 million units, while the second market, the USA (-2%) , does not exceed 17.5 million units. All the countries of the European Union (+ 3%) approached 18 million units last year. The European market has thus re-passed in front of the US market in 2017. It was already in front of the US market between 2005 and 2011.
- Among the top 20 automotive markets, the strongest growth was recorded in Argentina (+ 26%), Russia (+ 12%) and Iran (+ 16%). For 2018, Inovev expects a 2% growth in worldwide registrations.
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