Vehicle sales - selected countries 2023
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Globally, China accounted for the largest number of vehicle sales in 2023 with nearly
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million units. At the end of 2023, China was estimated to be the world’s largest automobile market based on new car registrations. The United States accounted for the second largest sales volume at that time with about Log in or register to access precise data.
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million new vehicles being sold. There have been many changes in the vehicle industry in recent years, and changing markets and technologies are expected to affect car sales in dramatic ways. Log in or register to access precise data.
Vehicle sales
The recent changes in vehicle sales and trade globally due to political tensions, changes to key markets, and changes in technology were already having an impact on the car industry. The reduction in sales in 2020 highly correlated with the onset of the coronavirus pandemic, and semiconductor supply shortages as well as raw material price inflation have put further strain on the automotive industry. Despite the decline in recent years, but long-term trends forecast a sales increase in 2024.
Vehicle production
Vehicle production is also showing some stagnation. The most significant reduction occurred in 2020. Motor vehicle output has grown since, but only surpassed pre-pandemic levels in 2023. That said, declining production levels recorded before then in Europe were partly offset by rising output in China.
