Global car markets in good shape in first half of 2014
August 5, 2014
The latest figures reveal that most global automotive markets continued to show growth in the first half of 2014. North American vehicle production moved 4.3% ahead year-on-year to 8.795 million units, of which light vehicle production showed 4% growth to 8.567 million units. In the USA light vehicle production increased by 4.4% to 5.8 million units, Mexico increased by 7.2% to 1.586 million, but Canada saw a small fall of 1.9% to 1.18 million units. Light vehicle sales in the USA expanded by 4% to 8.1 million units in the first six months of 2014.
In Europe (EU28+EFTA), car sales increased by 6.2% in the first half of the year to 6.852 million units, helped by strong sales in the UK (+11%) and Spain (+18%) and more moderate increases in France (+3%), Germany (+2%) and Italy (+4%). Germany, Europe’s largest car producing country, saw production increase by 6% to 2.911 million units in the first six months.
Russia continues to experience a shrinking automotive market with an 8% decline in sales to 1.229 million units compared with the same period last year.
Brazil and India also saw declining sales at 1.584 million units (-7.3%) and 1.290 million units (-3.2%) respectively. However, China reported a rise of 12.1% in passenger car production to 9.708 million year-on-year and an 11.2% rise in car sales to 9.634 million.
Japan saw a 9.1% increase in passenger car production to 4.320 million driven by a 25.6% surge in production of mini-cars (under 660cc) to 1.012 million in the first half of 2014. Domestic demand for new cars in Japan rose by 11% to 2.6 million in the first half year. Korea reported a 2.6% rise in automobile production to 2.243 million units in the six months to end June with exports increasing by just 0.4% to 1.596 million due in the main to a strong Won and weak markets in Eastern Europe.
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