New cars on a train (symbol image)
Photo: Hendrik Schmidt / picture alliance/dpa/dpa-Zentralbild
According to a report, the auto industry is heading for a recovery in 2023 after three years of crisis as a result of the corona pandemic, the Ukraine war and bottlenecks in chip production.
According to a market forecast by the Center Automotive Research in Duisburg (CAR), 74 million cars will be sold worldwide in the coming year, after 71.8 million in 2022, as reported by "Welt am Sonntag".
That would be an increase of 3.1 percent.
Germany in fifth place
"Growth is coming back, albeit initially at a low level," CAR boss Ferdinand Dudenhöffer told the newspaper.
For 2024 he predicted an increase in global car sales of almost four percent.
As in 2022, the largest percentage growth in the coming year is expected to come from China and India.
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Despite the many crises, China in particular is "a kind of locomotive for the global car market," Dudenhöffer said.
Without the growth there, the global market would have shrunk this year.
According to the CAR projection, car manufacturers in China will sell 23.4 million cars in 2022, an increase of eleven percent compared to the previous year.
The USA follows with 13.8 million new registrations, which corresponds to a minus of 7.3 percent.
Germany is back in fifth place in the list of the largest car markets, behind Japan in fourth place and India in third place, as reported by »Welt am Sonntag«.