Worldwide car sales 2010-2020

The global auto industry expects to sell 59.5 million automobiles in 2020, a dramatic decrease of over 20 percent year-on-year. The sector is projected to experience a downward trend on the back of a slowing global economy and the advent of a pandemic in all key economies. Previously, it had been estimated that international car sales were on track to reach 80 million in 2019; however, as economic woes continue, demand for new motor vehicles is expected to be in the negative throughout 2020.

Weak demand in Asia

In light of a state that could be dubbed 'peak car' in countries such as the United States and Germany, carmakers were particularly keen on tapping into the growing affluence of Asian markets to increase worldwide sales. However, China's economy began to lose steam and Chinese automobile sales fell to around 21 million units in 2019. 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.

Number of cars sold worldwide between 2010 and 2020

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Sources

Release date

April 2020

Region

Worldwide

Survey time period

2010 through 2019

Supplementary notes

* Annual averages

** The 2020 value is a forecast.

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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Statistics on "Automotive industry: Middle East and Africa"

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