Global light vehicle sales forecast – October 2023 edition | Automotive World

Light Vehicle sales (000s)
2021
2022
2023(f)
Change -v- prior year
Change -v- prior status (pts)
Notes

China
24,605.1
24,042.8
25,196.9
4.8%
-0.3
2023 GDP forecast lowered.

N. America (US & Canada)
16,720.1
15,380.4
16,780.0
9.1%
0.4
Economic outlook improved, but some supply disruption from strikes.

EU+EFTA+UK
13,798.0
12,937.0
14,049.6
8.6%
0.5
EU consumer confidence fell for second successive month in September, but car sales have risen for 14 months in row.

S. America
4,652.0
4,833.0
5,142.3
6.4%
0.3
Brazil consumer confidence highest since February 2014. New automotive stimulus announced in May. Mexico consumer confidence four-year high.

India
3,357.3
3,929.3
4,200.4
6.9%
0.2
Dealers Association has shifted stance from ‘cautiously optimistic’ to ‘optimistic’. Strong festive season anticipated.

Japan
4,361.5
4,121.4
4,488.2
8.9%
0.3
September consumer confidence continued decline from July’s 19-month high, but not yet reflected in LV demand.

Asean
2,455.0
2,794.0
2,984.0
6.8%
-0.2
Thai and Indonesian demand weaker in first nine months.

Middle East
2,408.4
2,451.8
2,640.6
7.7%
0.1
Demand in Turkey (regional leader) growing strongly despite economic background.

RoW
7,827.5
7,025.7
7,355.9
4.7%
0.1

 Total
80,185.0
77,515.4
82,837.9
6.9%
0.1

Change

-3.3%
6.9%