Stable car market reassures fleet operators
Written by: Fuel Card Services, Last updated:11th August 2020
New figures published by JATO Dynamics have highlighted stability in the global sales market, providing a welcome boost to the outlook for fleet operators.
Based on full-year figures for 2018, the body analysed the results of 54 markets. A total of 86 million vehicles were sold worldwide in the last year.
China down but rest of the world compensates
Overall, a 0.5 per cent reduction in sales was recorded in the 12 months to December 2018. This came as a result of a marked downturn in China, but stability in Europe and North America, as well as significant growth in South America and the Asia-Pacific.
Explaining the data, JATO global analyst Felipe Munoz stated: “The dip in the Chinese market had ramifications upon the rest of the global market in 2018. As China makes up nearly 30 per cent of global vehicle sales, any change that happens there is felt across the rest of the world.”
Overall, car sales fell by a modest 0.6 per cent to 81.84 million units, while LCV sales (4.17 million) were up by 2.5 per cent. One area where a major upturn was witnessed in 2018 was the electric vehicles segment, which recorded impressive annual growth of 74 per cent.
Ellie Baker, brand manager at Fuel Card Services, comments: “The stable market for vehicle sales helps helps give confidence to fleet operators that major manufacturers will continue to push forward with new releases and innovative additions to their ranges.”
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