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The global passenger car market has grown by 2% in 2017, according to the German VDA.
The global passenger car market has grown by 2% in 2017, according to the German VDA.

According to the German Association of the Automotive Industry (VDA), global passenger car market has grown by 2% in 2017 to 84.6 million vehicles.

China, the largest vehicle market in the world, is expected to rise by 2% to 24.1 million new cars.

The US light vehicle market has contracted slightly, for the first time after seven years of growth – by 2% to 17.2 million units.

Europe as a whole has continued to grow in 2017, increasing by 3% to 15.6 million passenger cars.

Of the top five markets in Europe – Germany, France, the UK, Italy and Spain, only the UK has falling figures, possibly due to initial effects of Brexit, said VDA.

The German passenger car market has increased markedly this year for the fourth time in succession. The association expects a growth of at least 3% to 3.4 million passenger cars.

In 2017 the German automotive industry will produce around 16.4 million passenger cars (+4%) worldwide. While production abroad has added 7% and climbed to 10.8 million units, domestic production has fallen slightly (-2%) to 5.6 million passenger cars.

Comparatively, 10 years ago France built nearly 2.6 million cars, but only 1.8 million units were built in 2017, down by more than 30%, according to VDA; In Italy, production has fallen by 17% (from 911,000 units to 756,000 units).

VDA predicts that the global passenger car market in 2018 will increase by 1% to 85.7 million units. The overall European passenger car market will maintain its level of 15.6 million units; the US market will continue to lack dynamism in 2018, achieving sales of just over 16.8 million light vehicles.

China, on the other hand, will remain on its growth path and is expected to grow by 2% again to 24.6 million passenger cars. Russia and Brazil will also continue their recovery.

Meanwhile, the Indian market may well expand by 10% in 2018 to 3.6 million passenger cars and thus overtake the German passenger car market for the first time.

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