Industry Focus

Statistics and Analysis on

Global Auto Sales in 2022

2022全球汽車銷售統計與分析

After last year's global auto market downturn, market researchfirms are predicting a slight rebound in sales this year, but there is
still a lot of difficulty in getting back to pre-pandemic levels. With
the release of sales statistics by the International Organizationof Motor Vehicle Manufacturers (OICA), what past phenomena
does this statistics reflect? Which country is the next with the best
potential for car sales this year? Let's explore together in this article.

The top five sales countries are the U.S., Brazil,
Canada, Mexico, and Chile in order. Sales in the U.S. far
exceeded those of other countries in the Americas by several
times, reaching 15.40 million units. The second place isBrazil with 2.104 million units, followed by Canada with 1.56
million units, Mexico with 1.04 million units, and Chile with
426 thousand units. Among these five countries, only Mexico
and Chile had a slight increase in sales volume, while theothers all dropped. It is worth noting that the sales volume
in Central and South America has rebounded continuously
in the past three years, while the North American region has
generally shown a decline.

Sales Volume of All Vehicle Types
According to the latest data released by OICA (see Figure 1), global
vehicle sales have been hit hard by factors including the pandemic in thepast three years, falling from about 91.24 million units in 2019 to a bottomof 78.78 million units in 2020, rebounding to about 82.75 million units in
2021, and falling to about 81.62 million units in 2022, down 1.3% from theprevious year. The last two years remained at the low end compared to thepre-pandemic period. Analyzed by continent, Asia Pacific led the worldin vehicle sales, with 44,566,542 units in 2022, followed by the Americas
with 20,888,241 units, and Europe in the third place with 15,083,088 units.
Europe, America and Asia alone accounted for 98.6% of the world's total
sales. 1.09 million units were sold in Africa last year.

090

The top five car sales regions in Asia Pacificare China, India, Japan, ASEAN and South
Korea in order. Although China's sales volumeof 26.863 million units accounted for more thanhalf of Asia Pacific sales, the growth rate wasonly 2% compared to last year, and only 4%compared to the pre-pandemic period, so the postpandemic rebound was insufficient. India has
emerged as "the next world’s factory" since lastyear, and foreign investors have been setting up
factories there, so Indian sales volume increased
significantly by 25% last year to 4.72 million
units, with an astounding growth potential. It is
worth noting that the Philippines and Vietnam,
both in Southeast Asia, are among the countries
in the Asia-Pacific region that also saw a 25%
increase. Sales in the ASEA N region also
increased by 17% to 3.26 million units. Japan'ssales fell 5% last year to 4.20 million units.
惠達雜誌The top five sales countries in Europe (including UK)
are Germany, UK, France, Italy and Spain in order. The
sales volume of these five countries fell last year as well as
in the past four years consecutively. In fact, from Table 1, we
find that nearly 80% of the sales volume in Europe fell lastyear, with some of the countries experiencing double-digit
declines, which indicates obstruction in European car sales
that forms a warning sign.

Fig. 1. All Vehicle Types Global Sales
95,000,000
93,000,000

91,244,197

91,000,000
89,000,000
87,000,000

85,000,000

82,755,197

83,000,000

81,628,533

81,000,000
79,000,000
78,787,566

77,000,000
75,000,000(Unit: Vehicle)

2019

Emerging Fastener Markets no.12/2023

2020

2021

2022

Year

Industry Focus
Table 1. Registrations or Sales of New Vehicles - All Types(Unit: Vehicle)

Regions/Countries

2019

2020

2021

2022

2022 / 2021

2022 / 2019

Europe20,930,134

16,714,115

16,882,466

15,083,088-10.7%-27.9%

EU 27 Countries + EFTA + UK

18,423,617

14,080,973

14,141,064

13,302,914-5.9%-27.8%

Germany

4,017,059

3,266,759

2,973,319

2,963,748-0.3%-26.2%

United Kingdom

2,736,559

1,964,660

2,049,005

1,943,572-5.1%-29.0%

France2,755,728

2,100,030

2,142,284

1,929,554-9.9%-30.0%

Italy

2,132,630

1,564,756

1,669,855

1,505,978-9.8%-29.4%

Spain

1,501,244

1,030,792

1,034,064

958,813-7.3%-36.1%

Poland656,258

510,153554,619

518,048-6.6%-21.1%

Belgium

642,000

509,994

463,811431,594-6.9%-32.8%

Netherlands

538,739

427,162

402,823

386,458-4.1%-28.3%

Sweden418,478

330,215

343,880

329,868-4.1%-21.2%

Switzerland

352,968

269,391

272,087

254,884-6.3%-27.8%

Austria

371,934

301,617306,176

244,694-20.1%-34.2%

Other Countries

285,560

215,910

237,574

229,770-3.3%-19.5%

Czech Republic

281,423

228,834

236,221219,198-7.2%-22.1%

Norway189,722

180,885

217,464

210,007

-3.4%

10.7%

Portugal

265,827

173,989

180,287

185,3672.8%-30.3%

Denmark

264,073

233,271

221,916

181,016-18.4%-31.5%

Romania

189,024

146,385

145,400

151,976

4.5%-19.6%

Hungary

190,090

153,978

150,387

135,572-9.9%-28.7%

Ireland145,104

112,122

136,126

131,400

-3.5%

-9.4%

Greece122,990

88,710112,364

115,884

3.1%

-5.8%

Finland133,505

112,988

115,291

96,622-16.2%-27.6%

Slovakia

113,863

84,90987,34990,074

3.1%-20.9%

Slovenia

73,49849,677

65,69855,924-14.9%-23.9%

Croatia

73,86243,80054,29051,322-5.5%-30.5%

Bulgaria
Russia, Turkey & Other Europe

44,977

29,663

34,47237,4958.8%-16.6%

2,506,517

2,633,142

2,741,402

1,780,174-35.1%-29.0%

Turkey491,947

796,150

772,850

827,163

7.0%

68.1%

Russia1,778,841

1,631,163

1,741,965

808,604-53.6%-54.5%

Other Countries/Regions

133,187

106,843

96,81990,279-6.8%-32.2%

Ukraine102,542

98,986

121,772

45,661-62.5%-55.5%

America

25,389,729

20,817,485

22,014,634

20,888,241-5.1%-17.7%USMCA (Formerly NAFTA)

20,824,602

17,445,480

18,160,147

16,927,731-6.8%-18.7%

USA

17,488,154

14,881,356

15,408,565

14,230,324-7.6%-18.6%

Canada1,976,440

1,586,474

1,704,850

1,562,965-8.3%-20.9%

Mexico1,360,008

977,650

1,046,732

1,134,442

8.4%-16.6%

Central & South America

4,565,127

3,372,005

3,854,487

3,960,510

2.8%-13.2%

Brazil

2,787,850

2,058,437

2,119,851

2,104,461-0.7%-24.5%

Chile

348,575

258,835

415,582426,781

2.7%

22.4%

Argentina

452,200

334,316

381,436

407,608

6.9%

-9.9%

Other Countries/Regions

351,181

256,623

340,213387,244

13.8%

10.3%

Colombia

248,689

173,121

229,493237,249

3.4%

-4.6%

Peru

155,507108,999

152,856

162,095

6.0%

4.2%

Ecuador

119,197

78,187

109,707126,050

14.9%

5.7%

Puerto Rico

101,928

103,487

105,349

109,022

3.5%

7.0%

092
惠達雜誌

Emerging Fastener Markets no.12/2023

Industry Focus
Table 1. Registrations or Sales of New Vehicles - All Types(Unit: Vehicle)

Regions/Countries

2019

2020

2021

2022

2022 / 2021

2022 / 2019

Asia/Oceania/Middle East

43,724,043

40,330,258

42,724,577

44,566,542

4.3%

1.9%

China

25,796,931

25,311,069

26,314,263

26,863,745

2.1%

4.1%

India

3,816,858

2,938,575

3,759,398

4,725,472

25.7%

23.8%

Japan

5,195,216

4,598,615

4,448,340

4,201,320-5.6%-19.1%

ASEAN

3,474,851

2,457,336

2,779,838

3,269,405

17.6%

-5.9%

South Korea

1,795,134

1,905,972

1,734,581

1,683,657

-2.9%

-6.2%

Australia

1,062,867

916,968

1,049,831

1,081,429

3.0%

1.7%

Indonesia

1,030,486

532,077

887,205

1,048,040

18.1%

1.7%

Thailand

1,007,552

792,146748,580

849,388

13.5%-15.7%

Saudi Arabia

533,904

452,544556,559

616,491

10.8%

15.5%

Malaysia

604,287

529,434

508,911607,000

19.3%

0.4%

Other Countries/Regions

545,054407,294446,222480,585

7.7%-11.8%

Taiwan425,000

444,161

422,000

415,195

-1.6%

-2.3%

Philippines

410,406

244,178

286,734

359,370

25.3%-12.4%

Vietnam

281,262

262,823

260,850

330,280

26.6%

17.4%

Israel268,220

226,338

311,291

288,036

-7.5%

7.4%

Pakistan

187,714

124,429

237,424

227,392

-4.2%

21.1%

United Arab Emirates

232,305

158,711

188,844

207,5399.9%-10.7%

Uzbekistan

197,103

195,000

184,500

205,145

11.2%

4.1%

New Zealand

149,293

115,435

165,287

164,813

-0.3%

10.4%

Kuwait112,633

85,287100,157

110,118

9.9%

-2.2%

Kazakhstan

71,81889,202

113,600

101,527-10.6%

41.4%

Africa1,200,291

925,708

1,133,520

1,090,662

-3.8%

-9.1%

South Africa

532,898

372,633

450,674

529,562

17.5%

-0.6%

Other Countries/Regions

330,909200,035

229,606

224,566-2.2%-32.1%

Egypt

170,568

219,732

277,805

175,125-37.0%

2.7%

MoroccoAll Countries/Regions

165,916

133,308

175,435

161,409

-8.0%

-2.7%

91,244,197

78,787,566

82,755,197

81,628,533-1.4%-10.5%Overall, in addition to the Asia Pacific region's sales growthof 4.3%, all the other regions fell, with only Europe declining
by a double-digit 10.7%.

Passenger Car
Global passenger car sales have been picking up over the
past three years and grew by 1.9% to 57.48 million units in
2022 compared to 2021, but the gap is still large compared tothe pre-pandemic level of 64.03 million units, indicating thatthe market is still at a relatively low level (see Figure 2).
The sales volume in Asia Pacific reached 37.50 million
units, among which India, ASEAN, Indonesia, Malaysia,
Thailand, Vietnam, Philippines and other Southeast Asian
countries achieved double-digit growth in sales volume,
which is worth paying attention to in terms of the demand forautomotive fasteners.
The top five sales countries in Europe are Germany, UK,
France, Italy and Spain. Except for Germany, which only
increased by 1%, the other four countries all declined, and so
did the sales in the whole European region. The sales in Russia
and Ukraine in the state of war fell by as much as about 60%.

The two largest passenger car sales countries in the Americas are
the U.S. and Brazil. Sales in the U.S. declined by 14% last year to
2.85 million units, a big difference from the 4.71 million units soldbefore the pandemic, indicating that local sales were still in decline.
Brazil grew only 1.2% last year, and overall there was no significant
recovery there.

Fig. 2. Passenger Car Global Sales
67,000,000
65,000,000

64,033,463

63,000,000
61,000,000
59,000,000

56,437,803

57,000,000

57,485,378

55,000,000
53,000,000
51,000,000(Unit: Vehicle)

53,915,928
2019Emerging Fastener Markets no.12/2023

2020

2021

2022 Year
惠達雜誌

093

Industry Focus
Table 2. Registrations or Sales of New Vehicles – Passenger Car(Unit: Vehicle)

Regions/Countries

2019

2020

2021

2022

2022 / 2021

2022 / 2019

Europe17,948,525

14,176,858

14,016,065

12,640,455-9.8%-29.6%

EU 27 Countries + EFTA + UK

15,787,104

11,954,880

11,778,330

11,296,757-4.1%-28.4%

Germany

3,607,258

2,917,678

2,622,132

2,651,357

1.1%-26.5%

United Kingdom

2,311,140

1,631,064

1,647,181

1,614,063-2.0%-30.2%

France2,214,280

1,650,118

1,659,005

1,532,035-7.7%-30.8%

Italy

1,916,949

1,381,753

1,458,030

1,316,919-9.7%-31.3%

Spain

1,258,251851,222859,477

813,374-5.4%-35.4%

Poland555,598

428,347446,647

419,749-6.0%-24.5%

Belgium

550,008

431,491

383,123

366,333-4.4%-33.4%

Netherlands

446,056

355,598

322,323

313,609-2.7%-29.7%

Sweden356,036

292,024

301,006

288,087-4.3%-19.1%

Switzerland

310,050

236,828

238,481

226,006-5.2%-27.1%

Austria

320,381257,721239,803

215,050-10.3%-32.9%-7.1%-23.1%

Czech Republic

249,915

202,971

206,876

192,087

Other Countries

238,551

182,625

195,040

187,000

Norway142,381

141,412

176,276

174,329

-1.1%

22.4%

Portugal

221,799

142,414

146,637

156,304

6.6%-29.5%

Denmark

225,410

198,162

185,324

148,293-20.0%-34.2%

Romania

159,696

125,004

119,817

127,948

6.8%-19.9%

Hungary

157,906

128,031

121,920

111,524-8.5%-29.4%

Greece114,226

80,977

100,916

105,283

4.3%

-7.8%

Ireland

117,10988,324

104,669

105,253

0.6%-10.1%

Finland

114,188

96,43098,481

81,674-17.1%-28.5%

Slovakia

101,568

76,30575,70078,841

4.1%-22.4%

Slovenia

59,86240,20053,98846,339-14.2%-22.6%

Croatia

62,97736,01344,92942,955-4.4%-31.8%

35,371

22,36824,537

28,68416.9%-18.9%

Russia, Turkey & Other Europe

Bulgaria

2,161,421

2,221,9782,237,735

1,343,698-40.0%-37.8%

Russia1,567,743

1,433,956

1,483,444

629,923-57.5%-59.8%

Turkey387,256

610,109561,853592,660

5.5%

53.0%

Other Countries/Regions

117,985

92,46382,25275,825-7.8%-35.7%

Ukraine88,43785,450103,262

37,891-63.3%-57.2%

America

9,615,068

6,863,607

7,022,931

6,550,719-6.7%-31.9%USMCA (Formerly NAFTA)

5,980,349

4,253,021

4,190,767

3,604,020-14.0%-39.7%

USA

4,719,710

3,401,838

3,350,050

2,858,575-14.7%-39.4%

Mexico763,793532,433

520,112486,962-6.4%-36.2%

Canada496,846

318,750

320,605

258,483-19.4%-48.0%

Central & South America

3,634,719

2,610,586

2,832,164

2,946,699

4.0%-18.9%

Brazil

2,262,073

1,615,942

1,558,467

1,576,666

1.2%-30.3%

Chile

260,683

194,128

304,045

313,589

3.1%

20.3%

Other Countries/Regions

262,755

189,378

244,388

277,513

13.6%

5.6%

094
惠達雜誌

Argentina

333,226

232,133

240,688

260,876

8.4%-21.7%

Colombia

220,564

151,730

200,914208,160

3.6%

-5.6%

Peru

115,241

81,496

111,436

118,915

6.7%

3.2%

Ecuador

97,572

61,74686,740100,069

15.4%

2.6%

Puerto Rico82,60584,03385,48690,911

6.3%

10.1%

Emerging Fastener Markets no.12/2023

Industry Focus
Table 2. Registrations or Sales of New Vehicles – Passenger Car(Unit: Vehicle)

Regions/Countries

2019

2020

2021

2022

2022 / 2021

2022 / 2019

Asia/Oceania/Middle East

35,586,750

32,210,364

34,565,574

37,504,121

8.5%

5.4%

China

21,472,091

20,177,731

21,518,324

23,563,287

9.5%

9.7%

India

2,962,115

2,433,473

3,082,279

3,792,356

23.0%

28.0%

Japan

4,301,091

3,809,981

3,675,698

3,448,297-6.2%-19.8%

ASEAN

2,395,999

1,650,462

1,875,335

2,232,055

19.0%

-6.8%

South Korea

1,497,035

1,618,333

1,468,873

1,420,486

-3.3%

-5.1%

Indonesia

785,539

388,925

659,809783,563

18.8%

-0.3%

Australia

799,263

676,804

753,256

777,688

3.2%

-2.7%

Malaysia

550,182

480,965452,663544,838

20.4%

-1.0%

Saudi Arabia

460,373

387,709475,837

519,485

9.2%

12.8%

Taiwan379,999408,628

382,000

375,841

-1.6%

-1.1%

Other Countries/Regions

401,434

294,228

320,408

346,983

8.3%-13.6%

Thailand

468,638

343,494

312,200

343,349

10.0%-26.7%

Vietnam

233,782

217,193

207,693283,352

36.4%

21.2%

Israel239,671

202,455

280,042

257,743

-8.0%

7.5%

Philippines

258,555

153,833

180,642

226,403

25.3%-12.4%

Pakistan

162,689

104,387

198,921

188,318

-5.3%

15.8%

United Arab Emirates

198,520

129,901

156,780

171,4149.3%-13.7%

Uzbekistan

147,827

146,250

138,377

153,750

11.1%

4.0%

New Zealand

103,61080,433112,008

116,334

3.9%

12.3%

Kazakhstan

65,88282,993

106,304

97,169

-8.6%

47.5%

Kuwait98,454

72,64883,46093,465

12.0%

-5.1%

Africa883,120

665,099

833,233

790,083-5.2%-10.5%South Africa

355,378

246,541

304,340

363,696

19.5%

2.3%

Other Countries/Regions

251,945

133,720

159,537

149,265-6.4%-40.8%

Morocco148,354

117,046

154,284

143,265

-7.1%

-3.4%

Egypt
All Countries/Regions

127,443

167,792

215,072

133,857-37.8%

5.0%

64,033,463

53,915,928

56,437,803

57,485,378

1.9%-10.2%

Commercial Car
Globa l com mercia l veh icle sa les havef luctuated sharply over the past four years,
showing a jagged line (see Figure 3), andalthough they rose sharply in 2021, they fell toa much lower level last year, landing at 24.14
million units.
As we can see from Table 3, the vast majorityof the world's commercial vehicles were sold in
Europe, but the sales in this region also fell by
double digits, with Ukraine, Russia and Austria
showing the largest declines. The top five sales
countries in this region, including France, UK
Germany, Italy and Spain, all experienced
continuous sales declines over the past four
years, resulting in a sluggish economy.
Although Asia Pacific also had a double-digit
decline, there were still many countries withsignificant increases, including India, Thailand,

Fig. 3. Commercial Car Global Sales
27,500,000

27,210,734

27,000,000
26,317,394

26,500,000
26,000,000
25,500,000
25,000,000
24,871,638

24,500,000
24,000,000
23,500,000(Unit: Vehicle)

24,143,155
2019

2020

2021

2022

Year

095
Emerging Fastener Markets no.12/2023

惠達雜誌Industry Focus
Table 3. Registrations or Sales of New Vehicles – Commercial Car(Unit: Vehicle)

Regions/Countries

2019

2020

2021

2022

2022 / 2021

2022 / 2019EUROPE

2,981,609

2,537,257

2,866,401

2,442,633-14.8%-18.1%

EU 27 Countries + EFTA + UK

2,636,513

2,126,093

2,362,734

2,006,157-15.1%-23.9%

France541,448449,912483,279

397,519-17.7%-26.6%

United Kingdom

425,419

333,596

401,824

329,509-18.0%-22.5%

Germany

409,801

349,081351,187

312,391-11.0%-23.8%

Italy

215,681

183,003

211,825

189,059-10.7%-12.3%

Spain

242,993

179,570

174,587

145,439-16.7%-40.1%

Poland100,660

81,806

107,972

98,299

-9.0%

-2.3%

Netherlands

92,68371,56480,50072,849-9.5%-21.4%

Belgium

91,99278,50380,68865,261-19.1%-29.1%

Other Countries

47,00933,28542,534

42,770

0.6%

-9.0%

Sweden62,442

38,19142,874

41,781-2.5%-33.1%

Norway47,341

39,473

41,18835,678-13.4%-24.6%

Denmark

38,66335,10936,59232,723-10.6%-15.4%

Austria

51,55343,896

66,37329,644-55.3%-42.5%

Portugal

44,02831,57533,65029,063-13.6%-34.0%

Switzerland

42,91832,56333,60628,878-14.1%-32.7%

Czech Republic

31,50825,86329,345

27,111-7.6%-14.0%

Ireland27,99523,79831,457

26,147-16.9%-6.6%

Hungary

32,18425,94728,46724,048-15.5%-25.3%

Romania

29,32821,381

25,58324,028-6.1%-18.1%

Finland

19,317

16,55816,81014,948-11.1%-22.6%

Slovakia

12,295

8,604

11,64911,233

-3.6%

-8.6%

Greece

8,764

7,733

11,448

10,601

-7.4%

21.0%

Slovenia

13,636

9,477

11,7109,585-18.1%-29.7%

Bulgaria

9,606

7,295

9,935

8,811

-11.3%-8.3%

Croatia

10,885

7,787

9,361

8,367

-10.6%-23.1%

Russia, Turkey & Other Europe

345,096

411,164

503,667

436,476-13.3%

26.5%

Turkey104,691

186,041

210,997234,503

11.1%

124.0%

Russia211,098

197,207258,521

178,681-30.9%-15.4%

Other Countries/Regions

15,202

14,38014,567

14,454

-0.8%

-4.9%

Ukraine14,105

13,536

18,5107,770-58.0%-44.9%

America

15,774,661

13,953,878

14,991,703

14,337,522

-4.4%

-9.1%

USMCA (Formerly NAFTA)

14,844,253

13,192,459

13,969,380

13,323,711-4.6%-10.2%

USA

12,768,444

11,479,518

12,058,515

11,371,749-5.7%-10.9%

Canada1,479,594

1,267,724

1,384,245

1,304,482-5.8%-11.8%

Mexico596,215445,217526,620

647,480

23.0%

8.6%

Central & South America

930,408

761,419

1,022,323

1,013,811

-0.8%

9.0%

Brazil525,777

442,495

561,384

527,795

-6.0%

0.4%

Argentina

118,974

102,183

140,748

146,732

4.3%

23.3%

Chile

87,89264,707

111,537

113,192

1.5%

28.8%

Other Countries/Regions

88,426

67,24595,825

109,731

14.5%

24.1%

096
惠達雜誌

Peru

40,26627,503

41,42043,180

4.2%

7.2%

Colombia

28,125

21,391

28,57929,0891.8%

3.4%

Ecuador21,625

16,441

22,96725,981

13.1%

20.1%

Puerto Rico

19,323

19,454

19,863

18,111

-8.8%

-6.3%

Emerging Fastener Markets no.12/2023

Industry Focus
Table 3. Registrations or Sales of New Vehicles – Commercial Car(Unit: Vehicle)

Regions/Countries

2019

2020

2021

2022

2022 / 2021

2022 / 2019

Asia/Oceania/Middle East

8,137,293

8,119,894

8,159,003

7,062,421-13.4%-13.2%

China

4,324,840

5,133,338

4,795,939

3,300,458-31.2%-23.7%

ASEAN

1,078,852

806,874

904,503

1,037,350

14.7%

-3.8%

India

854,743

505,102677,119

933,116

37.8%

9.2%

Japan

894,125

788,634

772,642753,023-2.5%-15.8%

Thailand

538,914448,652

436,380

506,039

16.0%

-6.1%

Australia

263,604

240,164

296,575

303,741

2.4%

15.2%

Indonesia

244,947

143,152

227,396

264,477

16.3%

8.0%

South Korea

298,099

287,639

265,708

263,171-1.0%-11.7%

Other Countries/Regions

143,620

113,066

125,814

133,602

6.2%

-7.0%

Philippines

151,851

90,345106,092

132,967

25.3%-12.4%

Saudi Arabia

73,531

64,83580,72297,006

20.2%

31.9%

Malaysia

54,10548,46956,24862,162

10.5%

14.9%

Uzbekistan

49,27648,75046,12351,395

11.4%

4.3%

New Zealand

45,68335,002

53,27948,479

-9.0%

6.1%

Vietnam

47,48045,63053,15746,928-11.7%-1.2%

Taiwan45,00135,53340,00039,354-1.6%-12.5%

Pakistan

25,02520,04238,50339,074

1.5%

56.1%

United Arab Emirates

33,78528,81032,064

36,125

12.7%

6.9%

Israel28,54923,88331,24930,293

-3.1%

6.1%

Kuwait14,17912,63916,697

16,653

-0.3%

17.4%

Kazakhstan

5,936

6,209

7,296

4,358

-40.3%-26.6%

Africa317,171

260,609300,287

300,579

0.1%

-5.2%

South Africa

177,520

126,092

146,334

165,866

13.3%

-6.6%

Other Countries/Regions

78,964

66,31570,06975,301

7.5%

-4.6%

Egypt

43,12551,94062,733

41,268-34.2%-4.3%

Morocco17,562

16,262

21,151

18,144-14.2%

3.3%

27,210,734

24,871,638

26,317,394

24,143,155-8.3%-11.3%All Countries/Regions

Indonesia, the Philippines, Malaysia, Saudi Arabia and so on, most of which are located inSoutheast Asia. Among them, India had the largest increase, up 37%. The largest decline was in
China, down 31%.

Past and Future
On the whole, global vehicle sales have been hit hard in the past four years, and therebound was still weak as of last year. Europe was hit the hardest, and sales volume declined
the most. It is worth noting that Asia Pacific has also been hit, but is still showing good
resilience, with most countries in this region still experiencing growth.
Several market research companies predict that global auto sales this year are expected
to have minor growth despite the concerns that still linger. What is certain is that India,

emerging as the next world factory, had a significant double-digit growth lastyear regardless of vehicle type; and therefore, India's car sales momentum thisyear is very promising.
Article by Dean Tseng, Fastener World
Copyright owned by Fastener World

Emerging Fastener Markets no.12/2023

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