Global Top 10 Countries Sales Forecast (Q4 2020)
Global sales to increase 11% to 86 million units in 2021, recovering to 91 million units in 2022
2021/01/26
- Summary
- Commentary
Summary
*An updated version of this forecast report will be released every quarter.
-According to the LMC Automotive forecast (as of Q4 2020), global light vehicle sales in 2020 are expected to decline 14% y/y to 77.59 million units. Conversely, 2021 sales are expected to increase by 11% to 86.43 million units, and 2022 sales are expected to increase by 6% to 91.53 million units, with the market expected to recover steadily for two consecutive years after the unprecedented sales decline in 2020.
-Looking at 2021 sales by country, all of the top 10 countries except South Korea, which had an exceptionally strong sales year in 2020, are expected to see a y/y increase. In addition to a solid recovery in China and the U.S., India is expected to make a sharp recovery to 3.83 million units, up 38% from the previous year, and surpass Germany once again to emerge as the world's fourth largest automotive market.
Free membership registration allows you to read the rest of the article for a limited time.