info@marketresearchfuture.com   📞  +1 (855) 661-4441(US)   📞  +44 1720 412 167(UK)

Global Scenario in the Sales of Cars: 2023

By Garvit Vyas , 12 January, 2023

The post-pandemic condition due to COVID-19 has slowed down the global economy. The world in lockdowns has shown little signs of progress in this period.

It has been seen that pre-pandemic car sales were on a sound track. According to reports, there was a decline in new motor vehicle sales in 2020. COVID-19 harmed car sales and demands. South- America and Europe were the hardest-hit regions among all other countries.

According to recent reports by Cox Automotive, in 2023, the sell volume will also stay at the same dismal level. It expects net sales to rise by 2% to 14.1 million vehicles in 2023. Again, used retail sales may fall 1% to 18.9 million in 2023.

China is the largest automobile market based on sales. However, due to the coronavirus pandemic, car sales fall over the fear of a looming recession. But according to the chief economist of Cox Automotive, this year, consumers are not holding back and are ready to spend. In contrast, other economists are predicting a recession this year.

The data index for used vehicles released by Cox Automotive shows a decline in 2022 and 2023. In 2019, the index rose to 2.5%; in 2020, to 14%; in 2021, to 46.7%; in 2022, to 14.9% and in 2023, to 4.3% before rising to 4.1% by 2024.

Manheim  Used Vehicle Value Index Dec 2022

Latest News

Manheim  Used Vehicle Value Index Dec 2022
Gasoline Demand Reduces With Surge In Electric Vehicles For 2024

The clean energy transition shows compelling results in the transportation sector as consumers opt for electric vehicles. The strategic changes in the automotive industry reveal that gasoline demand is still higher, although electric vehicles will…

Read More

Manheim  Used Vehicle Value Index Dec 2022
China Holds 80 Percent Of Solar Energy Production In 2024

Solar energy sources are gaining momentum with the progress of the clean energy transition. The transformation in the environment seeks renewables in the place of fossil fuels. Chinese renewable development increased with solar panels in 2024. China…

Read More

Manheim  Used Vehicle Value Index Dec 2022
China Emerges To Be The Leading Country In Industrial Robotics Sector

The robotics industry is growing day by day due to innovations in the technological field in 2024. The industrial market is increasing due to advancements in the artificial intelligence sector. The technological field is growing with robot production…

Read More

Manheim  Used Vehicle Value Index Dec 2022
Hydropower Dominates The Clean Electricity Production In Top Five Countries With Cleanest Grids In 2024

The clean energy transition is progressing with a greater speed in 2024. It is creating broader impacts in the different sectors of the economy. Hence, nations worldwide are supporting green transformation in several ways. However, funds for the…

Read More

Manheim  Used Vehicle Value Index Dec 2022
Geothermal Energy Expects Growth in the Race to Achieve Clean Energy

The clean energy attainment in the environment is actively incorporating conventional renewable energy sources into the sustainable mechanism of 2023. With the growing need for an energy transition, countries aim to replace fossil fuels with…

Read More

Author Pic
Garvit Vyas

Analyst