Global car sales plummeted in 2019
November 28, 2019According to analysts, this year will end with a negative value of several million cars. The main influence is provided by the Chinese market, where sales of new cars have fallen significantly.
According to the Fitch Ratings economic team, global car sales in 2019 will fall by about 3.1 million units. The results are calculated based on sales data from the International Organization of Automakers. This figure will be 4% compared to last year, which will be about 77.5 million cars.
For comparison, 80.6 million cars were sold in 2018, which was also less than in 2017 – 81.8 million cars. The year before last was a turning point when the first decline in the world market since 2009 was recorded.
A key factor in the decline in sales was the situation in the Celestial market. In the first 10 months of 2019, sales fell 11% from last year. Demand for new cars also fell in America, but less significantly. According to analysts from Fitch Ratings, the market decline will be 2% to 16.9 million.
In addition, the decline is noted not only in the automotive market. World production in various industries has also suffered.
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