Global auto sales poised to set record in 2018

The biggest percentage gains for global light-vehicle sales in 2018 are expected in South America and Central and Eastern Europe, while larger markets -- China, the rest of Asia and Western Europe -- are projected to show more modest sales gains. Photo credit: BLOOMBERG

Light-vehicle sales are on track to rise to a record 97.3 million units this year, despite a second straight annual decline in North America, according to an LMC Automotive forecast.

LMC projects sales of cars and light trucks will grow in every other region, resulting in a 2.1 percent increase in global demand.

The biggest percentage gains are expected in South America and Central and Eastern Europe, while larger markets -- China, the rest of Asia and Western Europe -- are projected to show more modest gains.

The projected 1 percent decline in North American sales could shift for the better or the worse, said Pete Kelly, an LMC managing director.

 

A breakdown of the North American Free Trade Agreement would probably raise vehicle prices and reduce demand, while accelerating economic growth could spur a surprise sales increase.

"That could go either way," Kelly said during a webinar presenting the forecast. "Perhaps if we did see a bit more strength in the economy, that negative 1 percent could disappear, and it could be flat or slightly up. But at the moment, we're assuming it will be down a little."

ATTENTION COMMENTERS: Automotive News has monitored a significant increase in the number of personal attacks and abusive comments on our site. We encourage our readers to voice their opinions and argue their points. We expect disagreement. We do not expect our readers to turn on each other. We will be aggressively deleting all comments that personally attack another poster, or an article author, even if the comment is otherwise a well-argued observation. If we see repeated behavior, we will ban the commenter. Please help us maintain a civil level of discourse.


Email Newsletters
  • General newsletters
  • (Weekdays)
  • (Mondays)
  • (As needed)
  • Video newscasts
  • (Weekdays)
  • (Weekdays)
  • (Saturdays)
  • Special interest newsletters
  • (Thursdays)
  • (Tuesdays)
  • (Monthly)
  • (Monthly)
  • (Wednesdays)
  • (Bimonthly)
  • Special reports
  • (As needed)
  • (As needed)
  • Communication preferences
  • You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.