Global Top 10 Countries Sales Forecast (Q3 2023)

Global sales to increase 8.4% to 87.86M units in 2023, up from previous forecast

2023/10/27

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Summary
Commentary by GlobalData

Summary

⋆An updated version of this forecast report will be released every quarter

-According to a report by GlobalData as of Q3 2023, global light vehicle sales are forecast to increase by 8.4% year-on-year to 87.86 million units in 2023. The forecast was revised upwards by almost 1.5 million units from the previous forecast, mainly in China and India.

-The disruption caused by supply constraints due to the semiconductor shortage has improved significantly, and Europe and North America, which were particularly badly affected, have shown a double-digit year-on-year recovery and are expected to remain strong in 2024.

-Short-term sales forecasts for China have been revised significantly upwards in anticipation of an increase in consumer consumption driven by stimulus measures and the introduction of new products by OEMs.

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