Number of cars sold worldwide from 1990 to 2019
(in million units)
Worldwide car sales 1990-2019
The global auto industry expects to sell some 77 million automobiles by the end of 2019. The sector is projected to experience a downward trend on the back of a slowing global economy.

Saturation in developed markets

In light of a state that could be dubbed 'peak car' in developed markets, carmakers are particularly keen on tapping into the growing affluence of Asian countries to increase worldwide car sales. Passenger vehicle sales in China reached 23.7 million units in 2018, and Asia’s economic powerhouse has emerged as the number one sales market for passenger cars.

Market stalls on weak demand in Asia

However, China appears to be grappling with an economic slowdown in 2019. Although the economy is still growing, there are fears that a recession may be looming. This could be disastrous for the automobile industry, as it relies so much on China. Volkswagen alone, albeit in collaboration with its local joint ventures, sold some four million light vehicles in China in 2018. It is expected that automakers will undertake unprecedented investment programs to grow their businesses not only in China, but also in ASEAN markets. That said, there will likely be a growth saturation curve in all of these markets.

Previously, it had been estimated that international car sales may reach 80 million in 2019; however, as economic woes continue, demand for new motor vehicles is shrinking.
Number of cars sold worldwide from 1990 to 2019
(in million units)
Global car sales in millions
2019**77
201878.6
201779
201677.3
2000 to 2015*54.9
1990 to 1999*39.2
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Worldwide car sales 1990-2019
The global auto industry expects to sell some 77 million automobiles by the end of 2019. The sector is projected to experience a downward trend on the back of a slowing global economy.

Saturation in developed markets

In light of a state that could be dubbed 'peak car' in developed markets, carmakers are particularly keen on tapping into the growing affluence of Asian countries to increase worldwide car sales. Passenger vehicle sales in China reached 23.7 million units in 2018, and Asia’s economic powerhouse has emerged as the number one sales market for passenger cars.

Market stalls on weak demand in Asia

However, China appears to be grappling with an economic slowdown in 2019. Although the economy is still growing, there are fears that a recession may be looming. This could be disastrous for the automobile industry, as it relies so much on China. Volkswagen alone, albeit in collaboration with its local joint ventures, sold some four million light vehicles in China in 2018. It is expected that automakers will undertake unprecedented investment programs to grow their businesses not only in China, but also in ASEAN markets. That said, there will likely be a growth saturation curve in all of these markets.

Previously, it had been estimated that international car sales may reach 80 million in 2019; however, as economic woes continue, demand for new motor vehicles is shrinking.
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