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Global vehicle sales recovered to around 87 million units in 2023

The preliminary global total of car sales has been compiled on a preliminary basis, showing that in 2023 (full year), the number of cars sold increased by 12% year-on-year to approximately 87 million units.

By 2024, the figure could be around 90 million units, with a recovery to pre-Corona disaster levels in sight.

By major countries and regions (2023), most European and US countries recorded double-digit growth, mainly due to a reactionary increase from the resolution of inventory shortages, while the recovery in emerging countries is underpinning the market growth.

The US and 31 European countries performed well, with sales up 12.4% to 15.96 million vehicles and 14.1% to 15.17 million vehicles respectively. Russia, where the shortage of new car supply is improving due to domestically produced cars and imports from China, saw a high growth rate of 59.3% to 1.32 million units.

By group, passenger car sales in the major countries (China, the US, Japan, 31 European countries and India) are mainly compiled for reference only, but Toyota (excluding Subaru, up 8.0% YoY) maintained its top position. It was followed by VW (+9.4%) and GM (+2.3%).