China And US Are Largest Car Markets In 2021, Italy Falls From Top 10

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The pandemic, shortage of semiconductors, and the constant push for electrification yield some interesting facts about the global vehicle market in 2021. Meanwhile the global total increased 5 percent to approximately 82.1 million units (including passenger cars, vans and light commercial vehicles). ), not all countries posted positive numbers. And that’s still below the pre-pandemic level of 89.6 million vehicles in 2019. Let’s take a look at some of the numbers.

China remains the top market with 26.3 million vehicles, up 4 percent from 2020 and 6 percent from 2019. Production issues have not hit China as hard as other regions, due to a strong push from the central government to make electric cars more affordable. China’s auto industry has been the big winner from the crisis that began to hit global markets two years ago.

This is not the case in the United States. Despite a small recovery in 2021 (up 4 percent compared to 2020), the 15 million units sold are still far from the 17 million in 2019. Unlike China and Europe, this market has yet to benefit from increased EV sales, as the numbers show. By 2021, pure electric vehicles account for only 3 percent of the market, while they account for 11 percent in China and 10 percent across Europe.

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But the EV boom is still not enough to offset the negative effects of recent years, as European countries know. Light vehicle registrations fell 25 percent between 2019 and 2021, or 4.04 million units. This is a Hugh drop. Historically, the European vehicle market has been about the same size as the US market. However, that has changed by a margin that jumped from 1.15 million units in 2019 to 3.2 million last year.

Global Auto Markets Data 2021

Italy Falls From Top 10

Difficulties in major European markets led to a decline. For example, Italy, which has historically been among the top 10 largest vehicle markets in the world, came out last year in 12th place behind Russia. In 2019, Italy was 9th in the market with nearly 2.1 million units, behind Brazil with 2.68 million and ahead of Canada with 1.93 million.

Similarly, Germany, France, the UK and Spain, all of which saw declines of between 22 per cent and 31 per cent between 2019 and 2021. Despite their difficulties, Germany, France and the UK still rank in the top 10, with Germany the leading European country. in 5th place.

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The rise of EVs across Europe is driven by various government incentives, but that doesn’t necessarily reduce the price of EVs enough for them to become a serious internal combustion alternative. Tighter emission regulations are also a factor in EV production, but higher EV prices could keep many buyers on their toes, unable to afford a new electric car in its current state.

Global Auto Markets Data 2021

South Korea, Chile, Turkey Take Position

The situation is much better in other markets such as South Korea, Chile and Turkey. In fact, South Korea has actually swapped places with Italy over the past two years, rising from 12th to 9th. Chile was able to cope better with the crisis because it lacked local industry; everything is imported. This is the main reason why it overtook Argentina and became the second largest market in South America. Argentina has 2.4 million more people than Chile.

Global Auto Markets Data 2021

Turkey jumped from 25th in 2019 to 18th last year, overtaking South Africa, the Netherlands, Saudi Arabia, Poland, Belgium and Thailand. The reason? As was the case in 2020, new cars have become a safe commodity for saving money and protecting against strong local currency devaluations.

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The article’s author, Felipe Munoz, is an Automotive Industry Specialist at JATO dynamics.

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