Worldwide car sales grew to around 75.3 million automobiles in 2023, up from around 67.3 million units in 2022. Throughout 2020 and 2021, the sector experienced a downward trend on the back of a slowing global economy, while COVID-19 and the Russian war on Ukraine contributed to shortages in the automotive semiconductor industry and further supply chain disruptions in 2022. Despite these challenges, 2023 sales surpassed pre-pandemic levels and are forecast to keep rising through 2024
Covid-19 hits car demand
It had been estimated pre-pandemic that international car sales were on track to reach 80 million. While 2023 sales are still far away from that goal, this was the first year were car sales exceeded pre-pandemic values. The automotive market faced various challenges in 2023, including supply shortages, automotive layoffs, and strikes in North America. However, despite these hurdles, the North American market was among the fastest-growing regions that year, along with Eastern Europe and Asia, as auto sales in these regions increased year-on-year.
Chinese market recovers
After years of double-digit growth, China's economy began to lose steam in 2022, and recovery has been slow through 2023. China was the largest automobile market based on sales with around 25.8 million units in 2023. However, monthly car sales in China were in free-fall in April 2022 partly due to shortages, fears over a looming recession, and the country grappling with the COVID-19 pandemic. By June of that same year, monthly sales in China were closer to those recorded in 2021.
Number of cars sold worldwide from 2010 to 2023, with a 2024 forecast
(in million units)
Characteristic
Global car sales in millions
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*Annual averages **This value is a forecast. The values for 2010 through 2019 were taken from a previous edition. The values include light truck sales in North America and, beginning in 2005, crossover utility vehicle sales in China. All figures refer to new vehicle sales.
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Scotiabank. (February 8, 2024). Number of cars sold worldwide from 2010 to 2023, with a 2024 forecast (in million units) [Graph]. In Statista. Retrieved September 01, 2024, from https://www.statista.com/statistics/200002/international-car-sales-since-1990/
Scotiabank. "Number of cars sold worldwide from 2010 to 2023, with a 2024 forecast (in million units)." Chart. February 8, 2024. Statista. Accessed September 01, 2024. https://www.statista.com/statistics/200002/international-car-sales-since-1990/
Scotiabank. (2024). Number of cars sold worldwide from 2010 to 2023, with a 2024 forecast (in million units). Statista. Statista Inc.. Accessed: September 01, 2024. https://www.statista.com/statistics/200002/international-car-sales-since-1990/
Scotiabank. "Number of Cars Sold Worldwide from 2010 to 2023, with a 2024 Forecast (in Million Units)." Statista, Statista Inc., 8 Feb 2024, https://www.statista.com/statistics/200002/international-car-sales-since-1990/
Scotiabank, Number of cars sold worldwide from 2010 to 2023, with a 2024 forecast (in million units) Statista, https://www.statista.com/statistics/200002/international-car-sales-since-1990/ (last visited September 01, 2024)
Number of cars sold worldwide from 2010 to 2023, with a 2024 forecast (in million units) [Graph], Scotiabank, February 8, 2024. [Online]. Available: https://www.statista.com/statistics/200002/international-car-sales-since-1990/