The global new car market has experienced very strong growth over the past five years. This trend is expected to continue, albeit at a slightly slower rate, with strong growth forecast between 2015-2020. While the large markets of Asia-Pacific and the United States slow from impressive rates of growth over the past five years, this is balanced by the improving performance of the European market, which has proven sluggish in recent years.
The global new cars market had total revenues of $1,482.3bn in 2015, representing a compound annual growth rate (CAGR) of 5% between 2011 and 2015.
In comparison, the Asia-Pacific and US markets grew with CAGRs of 8% and 8.4% respectively, over the same period, to reach respective values of $676.2bn and $247.1bn in 2015.
Market consumption volume increased with a CAGR of 3.8% between 2011-2015, to reach a total of 62,563.9 thousand units in 2015. The market’s volume is expected to rise to 73,168.8 thousand units by the end of 2020, representing a CAGR of 3.2% for the 2015-2020 period.
The performance of the market is forecast to decelerate, with an anticipated CAGR of 4.1% for the five-year period 2015 – 2020, which is expected to drive the market to a value of $1,816.3bn by the end of 2020.
Comparatively, the Asia-Pacific and US markets will grow with CAGRs of 4.3% and 2.6% respectively, over the same period, to reach respective values of $834.3bn and $280.7bn in 2020.
MarketLine’s latest report New Cars Global Industry Guide – 2016 provides top-line qualitative and quantitative information including: market share, market size (value and volume, and forecast to 2020). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
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Published: Aug -16
Report Format: electronic pdf