World market continues to fall

World market continues to fall

August 20, 2019 0 By autotimesnews

In July, 7,296,000 new cars were sold worldwide. Based on the results of last year, experts calculated an annual sales level of 92,533,000 cars.

Experts noted the continued decline in demand for new cars around the world. According to the results of July 2019, sales fell by 1.5% compared to the results of July 2018. Following the results of the seven months of 2019, 52,483,000 new cars were sold, which amounted to a 5.8% drop in sales.

The largest market is still China, in the territory of which 1 807 000 cars were sold last month alone. Demand fell 4.4%. Moreover, the market has been falling for the 13th month in a row. The United States remains the second market with results of 1,400,000 vehicles (+ 2.2%). Western Europe closes the top three, in the territory of which 1,346,000 new cars were sold (+ 1.3%).

It is worth noting that despite the resumption of state programs to stimulate demand, the Russian car market continued to fall in July due to a decrease in real incomes of the population and a continued increase in car prices.