The world's largest automobile markets
Globally, China is the largest automobile market, both in terms of demand and supply. In 2015, China produced more than 20 million passenger cars and around 3.4 million commercial vehicles. China is expected to also drive demand in the automotive market, with close to 35 million expected vehicle sales in 2020. Given the country's population level, the potential for China’s automobile market is enormous. There will be an estimated 200 million vehicles on Chinese roads by 2020, but less than one car for every five individuals. In the United States, there were about 797 motor vehicles per 1,000 inhabitants in 2010.
In 2016, Toyota was ranked as the automobile brand with the highest brand value. Toyota vehicles are manufactured by the Toyota Motor Corporation. The Japanese multinational carmaker is the second largest automobile manufacturer in the world. The firm had an 11 percent market share of the global automotive market in 2015, selling around 10 million light vehicles. In recent years, India and Brazil have emerged as important automotive markets, but have failed to impress in 2016. At the same time, the European Union made an unexpected comeback, with around 14.6 million new car registrations between January and December 2016.