Following the strong increase posted in 2013, when Global Light Vehicle market grew at 84.1 million units or 5.1% up from the previous year, new year started with a slower year-on-year speed and the6.4 million vehicles sold represented a 3% increase. However, it must be taken in account the 15% y-o-y increase scored in January last year, mainly due to a favorable seasonality in China.
A new focal point must be added while the recent vehicle market themes broadly persisted: expansion in China, mild recovery in Europe, a pre-tax increase spike in Japan, and solid though weather-impacted sales in the US. Indeed, many emerging markets are now managing a raising economic challenges and the 2014 could be full of risk in ASEAN as in South America. Middle East fast pace could be lower this year. The result is a full year 2014 projected up 2.5%.
China increase 7.4%, the lowest rate in 11 months. However January 2011 had scored a +45% and the trend project volume above 24 million despite the market could be hit by sales restrictions as the country needs to take robust actions against air pollution and now also have to tackle rising debts.
US car market appears to have lost some steam after recovering from 10.4 million in 2009 to 15.4 last year. January sales remained slightly subdued as bad weather – the polar vortex – had a knock-on effect on demand, but level of dealers inventory and rebates in near the maximum limits and despite the economy is keeping a fast track car sales will go slower this year.
Following the 2013 all-time record sales in Canada and the strong performance in Mexico, these markets are expected to be steady this year and January confirmed this prediction.
In Brazil the impact of first tranche new car duties was limited and the market grew 1% while the Argentine financial crisis risk to effect the rest of region. In January car sales in Argentina were down after 10 month and the recent tax hike on high-end vehicle models will not help avoiding a deep loss in the market volume. Others markets like Chile, Peru and Uruguay will reduce speed after good runs in the previous year.
Many countries are now showing a strong recovery and the Mediterranean area will lead the 2014 grew. However, Turkey and Russia have penalized continental. The main question now regard the evolution of relations between EU and Russia as the economic restrictions following the Russian Crimea annexation will hit the market in undefined dimension.
India kept falling losing 5.8% from year ago and the 2014 will remain particularly low for a so-called “emerging market”. All ASEAN region growth is uncertain this year, due to the fast increase posted in recent years combined with political and social Thailand’s issues. In Japan strong sales rate will persist in this quarter, as pull ahead effect for the new fiscal year tax hike. South Korea started up 4.4% and the market could finally move up this year driver by higher internal demand.
In the interactive tables below you can sort thru the Top 50 World’s market. Please consider that for few of them data are preliminary and subject to updates:
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