The world's largest automobile markets
Globally, China is the largest automobile market, both in terms of demand and supply. In 2017, China produced almost 25 million passenger cars and around four 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 829 motor vehicles per 1,000 inhabitants in 2015.
In 2018, 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. 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 15 million new car registrations between January and December 2017.