Soaring demand for new cars across the globe
10th February 2017
The global automotive sector has gone from strength to strength in recent months and new figures have shown how increased demand in China, India and Europe is driving growth.
According to the latest data published by JATO Dynamics, total new car sales around the world reached 84.24 million units in 2016 – an increase of 5.6 per cent year-on year.
Broken down by region, the statistics highlighted excellent gains in south-east Asia and EMEA in particular, with standout increases seen in China (14 per cent), India (8.4 per cent) and the EU (seven per cent).
That said, the positive nature of these results was somewhat tempered by a large-scale decline in South America (-12.4 per cent), although this was not enough to place a dampener on the overall annual result.
JATO Dynamics global analyst Felipe Munoz commented: "Despite the hurdles faced by the automotive industry last year, an increase in registrations of 5.6 per cent shows the sector's resilience."
He concluded that strong sales in the SUV market were particularly beneficial to growth, with this segment making up almost one-third (29 per cent) of all car sales in 2016.
Natalie Brinkley, brand manager at Fuel Card Services, adds: "Demand for new cars continues to increase, which is excellent news for the sector as a whole and bodes well for the industry in the months ahead."back