Car Sales to Top 90 Million Globally for First Time

3 Jan 2018   Transportation

A recovery in emerging markets such as Russia helped fuel the latest results. Global sales of passenger cars and trucks likely surpassed 90 million for the first time in 2017, the latest indicator that demand for conventional automobiles remains strong even as driverless cars and ride sharing get increasing attention. The results, based on preliminary data provided by WardsAuto.com, were fueled in part by a continued rebound in Western Europe and recovery in major emerging markets, including Brazil and Russia. Asian buyers are the main engine for sales growth with more than a quarter of the cars sold last year going to Chinese customers, up from less than 15% a decade ago. The North American market is the world’s most profitable for auto makers, but American dealership traffic has slowed after several years of momentum. Analysts expect U.S. sales in 2017 to fall short of a record 2016 and […]

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