Tablet Shipments Declined Over The Decade Expects To Rise In 2024
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 the vehicle value index in December 2022
Latest News
Tablet Shipments Declined Over The Decade Expects To Rise In 2024
There is a growing demand for smartphones in the era of artificial intelligence. The technology-driven market prioritizes smartphones and personal computers (PCs) over tablets. It is due to consumers' convenience to reach out to smaller or larger…
Amazon Is The Largest Investor On Renewable Energy For 2024
The renewable energy industry is gaining momentum due to the transition of clean energy worldwide. The nations globally aim to achieve net zero emissions by the end of 2050. In the United States, the targets of clean energy transition are to be…
China Shuts Door To Battery Production In 2024
The growing concerns over climate change in 2024 are increasing the demand for rechargeable batteries. There has been a surge in lithium-ion batteries since the beginning of 2024. Several studies have developed a substitute for lithium-ion batteries…
Investments And Fundings Into Clean Energy Sector Supports The Transformation
The clean energy transition is gaining momentum due to nations' active interest in climate change issues. In 2024, significant breakthroughs in the green energy transformation research and development sector are commendable. Transition in the…
Artificial Intelligence Stands As A Challenge For Clean Energy Transition
Artificial intelligence is reigning over every sector of the economy in the era of technology. It has set up its era rather than being a part of technology only. Recent developments in artificial intelligence make it very important from the…
