While debates rage about a slowdown, the engine of the global car market roared back to life in 2023, surging past 92 million sales—and the stats reveal an industry undergoing a dramatic transformation.
Key Takeaways
- In 2023, global passenger car sales reached 65.5 million units, marking a 9.4% increase from 2022
- Worldwide light vehicle sales in 2022 totaled 81.6 million units, with projections for 88 million in 2024
- Global new car registrations hit 75.1 million in 2023, up 12% year-over-year according to OICA data
- US new vehicle sales reached 15.5 million units in 2023, down 12% from 2021 peak
- In 2023, Toyota sold 2.25 million vehicles in the US, leading the market
- Ford F-Series pickup sales hit 750,789 units in the US for 2023
- In 2023, Europe new car registrations totaled 10.5 million units, down 0.8% YoY
- Germany led Europe with 2.9 million new car sales in 2023
- UK car sales reached 1.9 million units in 2023, up 17.3%
- China new energy vehicle sales exploded to 9.5 million units in 2023, 37.8% penetration
- China total passenger car sales reached 26.4 million units in 2023, up 11.5%
- Japan car sales fell 7.5% to 4.1 million units in 2023
- Global Toyota Group sold 11.2 million vehicles in 2023, market leader
- Volkswagen Group delivered 9.24 million vehicles worldwide in 2023
- Hyundai-Kia combined sales reached 7.3 million units in 2023
Global car sales rose in 2023, led by strong SUV and electric vehicle growth.
Asian Market Sales
- China new energy vehicle sales exploded to 9.5 million units in 2023, 37.8% penetration
- China total passenger car sales reached 26.4 million units in 2023, up 11.5%
- Japan car sales fell 7.5% to 4.1 million units in 2023
- India passenger vehicle sales grew 8.5% to 4.1 million units in FY2023
- South Korea light vehicle sales totaled 1.68 million units in 2023, down 7%
- China's BYD sold 3.02 million NEVs in 2023
- Toyota sold 1.64 million vehicles in Japan 2023
- India SUV sales surged 28% to 1.9 million units in FY2023
- Hyundai sold 728,777 vehicles in India FY2023
- China's Tesla sales reached 603,664 units in 2023
- Japan kei car sales were 1.78 million units in 2023, 43% market share
- Maruti Suzuki sold 1.61 million cars in India FY2023
- Indonesia car sales totaled 888,000 units in 2023, up 6%
- Geely Auto sales in China hit 1.67 million vehicles in 2023
- Thailand pickup sales led with 220,000 units in 2023
- Tata Motors sold 462,374 PVs in India FY2023
- China's Chery sales grew 82% to 1.88 million in 2023
- Malaysia car sales reached 665,663 units in 2023, up 11%
- Honda sold 1.1 million vehicles in China 2023 despite decline
- Vietnam motorcycle-influenced car sales hit 400,000 units in 2023
- Kia sold 341,378 units in India FY2023
- Toyota Corolla Cross topped Thailand with 70,000 sales in 2023
- Toyota sold 750,000 vehicles in China 2023, down 9%
- Mahindra sold 409,311 SUVs in India FY2023
Asian Market Sales Interpretation
China's electric car boom is charging ahead like a runaway BYD, leaving Japan sputtering in the rearview mirror as India's SUV craze hits the gas and the rest of Asia tries to keep pace on a rapidly changing road.
Brand Model Specific
- Global Toyota Group sold 11.2 million vehicles in 2023, market leader
- Volkswagen Group delivered 9.24 million vehicles worldwide in 2023
- Hyundai-Kia combined sales reached 7.3 million units in 2023
- Ford sold 4.4 million vehicles globally in 2023
- Honda global sales totaled 3.98 million vehicles in 2023
- Nissan sold 3.37 million vehicles worldwide in 2023
- Stellantis Group achieved 6.17 million vehicle sales in 2023
- Suzuki global sales hit 3.07 million units in 2023
- BMW Group sold 2.55 million vehicles in 2023, up 6.4%
- Mercedes-Benz Cars sales were 2.04 million units globally in 2023
- Tesla delivered 1.81 million vehicles worldwide in 2023
- BYD sold 3.02 million passenger vehicles in 2023
- General Motors sold 6.19 million vehicles in 2023
- Renault Group worldwide sales reached 2.23 million units in 2023
- Porsche delivered 320,221 vehicles globally in 2023
- Ferrari sold 13,663 cars worldwide in 2023, up 9.3%
- Rivian delivered 50,122 vehicles in 2023
- Lucid Group produced and delivered 8,428 vehicles in 2023
- Polestar sold 54,600 vehicles globally in 2023
Brand Model Specific Interpretation
While Toyota still reigns supreme in volume, selling more than some of its rivals combined, the real race is between the legacy giants solidifying their vast empires and the hungry electric upstarts proving that in this marathon of an industry, even selling 50,000 vehicles can be a disruptive declaration of war.
European Market Sales
- In 2023, Europe new car registrations totaled 10.5 million units, down 0.8% YoY
- Germany led Europe with 2.9 million new car sales in 2023
- UK car sales reached 1.9 million units in 2023, up 17.3%
- France new passenger car sales were 1.77 million in 2023
- Italy registered 1.55 million new cars in 2023, down 5%
- Spain car market grew 13% to 1.08 million units in 2023
- Europe's EV sales hit 2.4 million units in 2023, 14% market share
- Volkswagen Group sold 4.8 million cars in Europe 2023
- Tesla Model Y was Europe's top seller with 254,822 units in 2023
- Dacia Sandero led affordable segment with 198,184 sales in Europe 2023
- Europe's SUV sales share reached 53% of total in 2023
- Renault Clio sales totaled 142,662 units in Europe 2023
- Peugeot 208 registered 131,019 units across Europe in 2023
- Europe's hybrid sales grew 24% to 2.1 million units in 2023
- Fiat Panda sales were 117,903 units in Italy-dominated Europe 2023
- Germany EV registrations doubled to 524,250 in 2023
- Europe's used car market saw 35 million transactions in 2023
- Stellantis Group sold 2.8 million vehicles in Europe 2023
- Volvo XC40 sales reached 104,337 units in Europe 2023
- Europe's average CO2 emissions for new cars fell to 108.2 g/km in 2023
- Toyota Yaris sales totaled 103,775 units in Europe 2023
- UK EV sales grew 38% to 314,000 units in 2023
- Skoda Octavia registered 99,605 units in Europe 2023
- Europe's commercial vehicle sales were 1.7 million units in 2023
- Seat Leon sales hit 95,214 units in Europe 2023
European Market Sales Interpretation
Despite a continent-wide market stagnation, Europe's roads are now overwhelmingly ruled by SUVs and electrified choices, from Tesla's sleek dominance to Dacia's budget-friendly triumph, all while the used car lot quietly handled business four times the size of the new.
Global Sales Figures
- In 2023, global passenger car sales reached 65.5 million units, marking a 9.4% increase from 2022
- Worldwide light vehicle sales in 2022 totaled 81.6 million units, with projections for 88 million in 2024
- Global new car registrations hit 75.1 million in 2023, up 12% year-over-year according to OICA data
- In 2023, the global automotive market saw sales of 92 million vehicles including light trucks
- Global car production and sales aligned at 77.2 million units in 2023 per IHS Markit
- Passenger car sales worldwide grew by 8.7% to 66.2 million in 2023
- Total global vehicle sales including commercial reached 93.5 million in 2023
- In Q1 2024, global light vehicle sales were 21.7 million units annualized
- Global new passenger car market expanded 10.1% to 67.8 million units in 2023
- Worldwide sales of passenger cars and light commercial vehicles hit 82.3 million in 2023
- Global car sales volume in 2024 is forecasted at 89.6 million units, up 5% from 2023
- In 2023, global BEV and PHEV sales totaled 14 million units, 18% of total car sales
- Total global light vehicle market size was 78.9 million units in 2023
- Global automobile sales revenue reached $2.9 trillion in 2023
- Worldwide new car sales per capita stood at 8.4 vehicles per 1,000 people in 2023
- Global sales of SUVs and crossovers accounted for 47% of total car sales in 2023
- In 2022, global commercial vehicle sales were 26.2 million units
- Global passenger car sales forecast for 2025 is 70.2 million units
- Total vehicles sold globally in December 2023 were 7.1 million units
- Global light vehicle sales grew 11.3% YoY in 2023 to 90.1 million
- In 2023, Asia accounted for 57% of global car sales with 42.5 million units
- Global new energy vehicle sales surged 37% to 14.6 million in 2023
- Worldwide car sales market share of top 10 OEMs was 85% in 2023
- Global used car sales volume was 140 million units in 2023
- In Q4 2023, global auto sales hit 22.5 million units annualized
- Global luxury car sales reached 2.8 million units in 2023, up 5%
- Total global two-wheeler sales influenced car market at 60 million in 2023
- Global car export volumes were 28.4 million units in 2023
- Worldwide hybrid vehicle sales grew 52% to 10.5 million in 2023
- Global light commercial vehicle sales totaled 12.8 million in 2023
Global Sales Figures Interpretation
In a symphony of contradicting numbers, it appears the world bought about ninety-whatever million vehicles in 2023, with everyone agreeing mostly on one thing: the industry is accelerating faster than a Tesla on Ludicrous Mode, and we can't even decide which odometer to read.
US Market Sales
- US new vehicle sales reached 15.5 million units in 2023, down 12% from 2021 peak
- In 2023, Toyota sold 2.25 million vehicles in the US, leading the market
- Ford F-Series pickup sales hit 750,789 units in the US for 2023
- US electric vehicle sales grew 50% to 1.18 million units in 2023
- Chevrolet Silverado sales in US were 543,319 units in 2023
- Tesla Model Y became the best-selling car in US with 385,900 units in 2023
- US SUV sales accounted for 66% of total light vehicle market in 2023
- Ram Pickup sales reached 444,926 units in the US 2023
- Honda CR-V sales in US hit 361,457 units for full year 2023
- US new light truck sales were 11.2 million units in 2023
- Toyota RAV4 sales totaled 434,943 units in US 2023
- US passenger car sales fell to 3.1 million units in 2023
- Jeep Grand Cherokee sales were 244,594 units in US 2023
- US used car sales volume was 35.2 million units in 2023
- Tesla Model 3 sales in US reached 220,910 units in 2023
- GMC Sierra sales hit 295,737 units in the US for 2023
- US luxury vehicle sales grew 13% to 1.8 million units in 2023
- Nissan Rogue sales were 271,458 units in US 2023
- US average transaction price for new vehicles rose to $48,759 in 2023
- Hyundai Tucson sales reached 197,675 units in US 2023
- US fleet sales represented 23% of total new vehicle sales in 2023
- Subaru Outback sales were 162,347 units in US 2023
- US new vehicle inventory averaged 2.7 million units in 2023
- Toyota Camry sales totaled 290,649 units in US 2023
- US EV market share reached 7.6% of new car sales in 2023
- Honda Accord sales were 198,123 units in US 2023
US Market Sales Interpretation
Despite a market-wide retreat from its peak, the American automotive story of 2023 was a tale of expensive trucks dominating the landscape, while a quiet but potent electric revolution, led by Tesla, began to seriously park itself in the driveway.
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