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Automotive Industry: Difference between revisions
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== Sales == | |||
=== September 2023 === | |||
* The global light-vehicle selling rate (SAAR) once again outperformed expectations and reached 99.7 million units, the highest monthly SAAR since August 2018. <ref name=":1">https://www.jdpower.com/business/press-releases/jd-power-globaldata-forecast-september-2023</ref> | |||
* Global year-over-year growth increased 10.5% from relative strength in demand. Europe was at the top of the markets in growth, with volume up 23%, while North America growth remained strong, up 17%. Growth across Asia was also stable, most notably in Japan (17%), South Korea (15%) and China (7%). | |||
* September is expected to have a selling rate of 90 million units, making it the fourth consecutive month above the 90-million threshold. Volume is forecasted to be up nearly 5% as growth moderates from a strong base in September 2022. | |||
==== Forecast ==== | |||
* As we edge toward the end of 2023, the global automotive market has consistently outperformed expectations monthly, leading to another increase to the forecast from 86.8 million units to 87.9 million units, an increase of 8% from 2022. The wildcards to the finish of 2023 are the U.S. market—which may be influenced by the ongoing UAW strike—and China, with a price war that is attracting more consumers into the new-vehicle market but is negatively affecting OEM margins.<ref name=":1" /> | |||
* The lift in the forecast for 2023 has spilled into 2024, with the outlook being increased to 91.6 million units from 90.2 million. Much of the change is due to a more optimistic view of the short-term outlook in China | |||
== References == | == References == | ||