Worldwide Car Sales by Region (Every Year Since 2005)
The global car market has been growing steadily in recent years, but growth has slowed in recent years due to a number of factors, including the COVID-19 pandemic, chip shortages, and rising inflation.However, the long-term outlook for the global car market is positive. The population is growing, incomes are rising, and urbanization is increasing, all of which are factors that are expected to drive car sales in the coming years.In addition, the shift to electric vehicles is expected to boost car sales in the coming years. Electric vehicles are becoming more affordable and more popular, and governments around the world are introducing incentives to promote their adoption.
Overall, the global car market is expected to continue to grow in the coming years, albeit at a slower pace than in previous years. The Asia-Pacific region is expected to remain the largest car market in the world, followed by Europe and North America.
Asia-Pacificis the largest car market in the world, accounting for over 40% of global sales in 2022. China is the largest car market in the region, followed by Japan and India.
Europeis the second largest car market in the world, accounting for over 20% of global sales in 2022. Germany, France, and the United Kingdom are the largest car markets in the region.
North Americais the third largest car market in the world, accounting for over 15% of global sales in 2022. The United States is the largest car market in the region, followed by Canada and Mexico.
Latin Americais the fourth largest car market in the world, accounting for over 7% of global sales in 2022. Brazil is the largest car market in the region, followed by Mexico and Argentina.
Middle EastandAfricaare the smallest car markets in the world, accounting for a combined market share of less than 5% in 2022. Turkey is the largest car market in the Middle East, followed by Saudi Arabia and Iran. South Africa is the largest car market in Africa.
