Global Top 10 Countries Sales Forecast (Q1 2023)

Global sales for 2023 up 6.2% to 86M, largely unchanged from the previous forecast

2023/04/26

Summary
Commentary by LMC Automotive

Summary

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

-According to a report by LMC Automotive as of Q1 2023, global light vehicle sales are forecast to increase by 6.2% y/y to 86.05 million units in 2023.

-The forecast remains unchanged, although it has been revised slightly upwards from the previous forecast (as of Q4 2022). The global light vehicle market remains weak, but it is assumed that the situation will improve in Q2 due to increased semiconductor supply.

-The top 10 countries are forecast to see sales in 2023 of 27.55 million units in China (+3.2% y/y), 15.02 million units in the US (+9% y/y) and 4.55 million units in Japan (+9.3% y/y). India, which showed rapid growth last year, is set to continue to grow in 2023.

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