With so many changes occurring in the automotive market, some countries are witnessing huge growths in both passenger as well as commercial vehicle sales.
The top nine markets in passenger vehicle sales across the world are China, US, Japan, Germany, India, UK, Brazil, France and Italy. The passenger vehicle segment consists of cars, vans and SUVs. The first five months of 2015 recorded a lot of sales and the Chinese, Indian, UK and Italian markets witnessed a considerable growth in sales. China ranks first with sales of 86 lakh cars, a growth of 6.36% over the same period in 2014. India recorded a growth of 6.54% with sales hovering around the 11 lakh mark from January to May 2015.
Germany, UK, France and Italy also recorded a positive growth of 3.55%, 5.68%, 3.85% and 15.2% respectively. The US and Japanese markets are the biggest automotive markets in the world after China but they recorded a fall in sales. Sales in the US fell by 1.02% while Japan recorded a fall of 14.63% which is quite sizeable. Brazil recorded the highest fall in sales at 20%. Moving to commercial vehicles, it is the US here that has the most sales and growth is rated at 9.65%. China saw a fall of 17.25% in CV sales while India witnessed a hike of 5.29%.
UK recorded the highest growth at 22.62% while Brazil again has the highest dip in sales with a fall of 39.91%. The automobile market across the world has seen a huge flurry of changes in market scenarios over the past few years. Talking about India in general, the market is fast growing and sales of vehicles are just increasing day by day. More and more people are buying new vehicles and it is not uncommon to see many families having multiple vehicles for themselves. With increasing income and the availability of more choices, the market is just going to increase and it is a matter of time when India becomes the next China. Even for commercial vehicles, sales are rapidly increasing in various fields and there is no going back now.
Source – ETAuto.com