The world car market in October grew by 2%

The world car market in October grew by 2%

November 15, 2020 0 By autotimesnews

Such data was very encouraging for the industry, as sales growth came amid the second wave of coronavirus infection.

Last month, a total of 7 million 626 thousand new passenger cars and cars of the LCV segment were sold in the world, which is 2.3% more than last year’s result. The main contribution to the growth in sales was made by the car market in China, which grew by 10.4% last month to 2.497 million units.

The second place is traditionally occupied by the American market, which also showed growth in October, although not so significant – “plus” 1.3%. In quantitative terms, sales amounted to 1 million 351 thousand units. In Western Europe, the sales volume reached 1 million 176 thousand copies – “minus” 6.1%. However, this market decline does not look critical against the backdrop of the second wave of coronavirus.

The best dynamics were shown by the countries of Eastern Europe – 398.8 thousand new cars (+ 12.4%) were sold in these countries. We also note the Russian market, which turned out to be in positive territory at once by 7%.

In South America, consumer demand continues to decline – dealers sold 240.4 thousand cars (-11.8%). Of the significant markets, the largest decline in sales occurred in Japan. In October, residents of the Land of the Rising Sun bought 401.5 thousand new cars – thus, the demand decreased by 28.8%.