Car sales increased in November 2014 in Europe, the USA, India and China while new vehicle registrations contracted in Russia, Japan and Brazil. However, the pace of growth has slowed in all major markets in the world compared to the sales increases recorded during first six months of the year. China remained the world’s largest and fastest growing single-car market during November 2014.
Worldwide Car Sales in 2014 (January to November)
New light vehicle registrations in various parts of the world monitored by the VDA were as follows during November 2014:
|Region||Novemb 2014||% Change||Jan to Nov 2014||% Change|
*USA, Brazil and Russia include light vehicles (trucks). % Change refers to same period the previous year.
Weak Car Sales in Europe in November 2014
The European Union (EU) and EFTA registered its 15th month of consecutive growth in new passenger vehicle registrations during November 2014. However, the increase was a mere 1.2% with the major German (-1.8%) and French (-2.7%) car markets both contracting again. The positive growth was mainly due to Spain (17.4%), Britain (8%) and Italy (5%).
Year-to-date 2014, the European car market grew 5.5% to just over 12 million new passenger vehicle registrations.
In Russia, car sales contracted by only 1.1% – a much stronger performance than was expected. However, the market was helped by the effect of the end of a cash-for-clinker scheme that was due to run out end of 2014 (but has since been extended into 2015). Astute car buyers may also have forwarded purchases in anticipation of price increases or shortages due to the weakening currency. Currency instability, increases in interest rates and inflation are likely to heavily weigh on markets in coming months.
Strong Vehicle Sales in America in November 2014
Light vehicle sales in the USA increased by 4.5% in November 2014 to just less than 1.3 million vehicles. As usual, the majority of sales were light trucks, which saw an increase of 9% in sales to 717.100 trucks while car sales decreased by a percentage point to 576,700 cars.
Year-to-date 2014 light vehicle sales in the USA are just less than 15 million – an increase of 5.3%. Light truck sales increased by 10% to 7.9 million vehicles while car sales increased by just a percentage point to 7 million cars.
In Brazil, light vehicle sales continue to weaken but at a slower pace than in recent months. Car sales in Brazil were down 2.9% in November while the year-to-date 2014 contraction is 8.1%
Continued Car Sales Growth in China in November 2014
China remained the largest and fastest growing new car market in the world in November 2014 and during the first eleven months of the year. In November, car sales in China increased by 7.7% to almost 1.7 million cars. Year-to-date 2014, the increase in new passenger vehicle registrations in China has been nearly 12% to more than 16 million cars.
In Japan, the new car market continued to weaken to reflect the struggling economy. In November, new passenger vehicle registrations were down another 10%. Due to the very strong growth during the first quarter of 2014, before the increase in sales taxes in April, the overall market remains positive but with very little prospects for further growth.
Only China saw stronger growth than India in November 2014. The Indian car market expanded by 7.7% to 212,400 cars in November leaving the market flat year to date. During the first 11 months of 2014, 14 million more cars were sold in China than in India.