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Automotive Industry: Difference between revisions
→Sales Outlook
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=== S&P Global forecast (October 9, 2023) === | === S&P Global forecast (October 9, 2023) === | ||
* S&P Global forecasts that global light vehicle sales will grow by 5%-7% to 82.9 million-84.4 million vehicles in 2023 (revised up from 81.3 million-82.9 million units) and by 1%-3% year-over-year in 2024 (revised down from 3-5%)<ref>https://www.spglobal.com/ratings/en/research/articles/231009-global-auto-sales-forecasts-the-pricing-party-is-coming-to-an-end-12869539</ref>.[[File:Global light vehicles.png|left|thumb|583x583px]] | * S&P Global forecasts that global light vehicle sales will grow by 5%-7% to 82.9 million-84.4 million vehicles in 2023 (revised up from 81.3 million-82.9 million units) and by 1%-3% year-over-year in 2024 (revised down from 3-5%)<ref>https://www.spglobal.com/ratings/en/research/articles/231009-global-auto-sales-forecasts-the-pricing-party-is-coming-to-an-end-12869539</ref>. | ||
* The revised forecast for 2023 is due to surge in sales due to pent-up demand associated with easing supply chain issues. | |||
* 2024-2025 sales forecasts has been revised down due to sales in China that is back to pre-pandemic levels and expectations that North-America and Europe will not go back to the pre-pandemic levels even by 2025.[[File:Global light vehicles.png|left|thumb|583x583px]] | |||
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=== J.D Power forecast (September 28, 2023) === | === J.D Power forecast (September 28, 2023) === | ||