Spain is the fastest-growing car market in the Top 20 in 2015.
* See the Top 50 largest car markets in the world by clicking on the title *
This is the first of three exhaustive updates on the worldwide new vehicle market in 2015. Full Year 2015 sales figures are now available for 145 countries/markets in the world. Below the jump you will find the Top 50 largest markets in the world, however please note – as it was the case last year – this ranking classifies countries based on their overall vehicle sales. That’s Passenger Cars and Commercial Vehicles, including Light, Medium and Heavy ones, putting all countries on a level-playing field, as some countries traditionally report monthly PC car sales only and other overall sales.
China remains the #1 market in the world in 2015. Picture .
For the 6th consecutive year, worldwide new vehicle sales hit an all-time record, however the growth pace decelerates significantly this year at +2% vs. +3.2% in 2014 to 89.677.983 units. At this rate, worldwide sales could hit the symbolic 100 million barrier in 2020. Already the dominant region in the world, Asia/Oceania/Middle East is also the most dynamic this year at +3.2% to 43.85m sales, accounting for 49% of the worldwide marketplace. America is up just 0.4% to 25.23m (NAFTA up 6.2% contrasting with Central & South America crumbling down 20%), Europe is up 2% to 19.04m (European Union +10% but handicapped by Russia at -38%). Finally, Africa is stuck at a weak 1.55million units (-9%) however market data is largely unreliable for this continent.
Like in 2014, Vietnam is the fastest-growing market in the Top 50. Picture
Looking into the ranking by country, the Top 2 markets in the world both hit record highs in 2015: China continues to reign supreme with sales up 5% to 24.6m despite a sluggish summer while U.S. sales beat a 15 year-old record at 17.47m, up 6% on 2014. Hit by tax increases on kei-cars and a stagnant economy, Japan sales are down 9% to 5.05m. Below, Germany (+5%), India (+8%) and the UK hitting a record 3.06m sales (+8%) all overtake struggling Brazil down 27% to just 2.57m units, returning to its 2007 level. Similarly, France (+6%), Canada (+3% to a record 1.94m), South Korea (+6%) and Italy (+16%) all bypass Russia down a devastating 38% to 1.6m sales.
Pakistan comes second at a splendid +56%. Picture courtesy
Catching up on lost ground since the global recession, Spain is the fastest-growing market in the Top 20 at +29% (1.28m), followed by Turkey up 25% and reaching a seven-digit sales figure for the first time at 1.01m deliveries. Other markets hitting an all-time record in 2015 include Mexico (1.35m), Australia (1.16m), Saudi Arabia (879.704), Malaysia (666.674), the Philippines (323.968), the Czech Republic (260.070), Denmark (245.484), Pakistan (229.688, up 56%) and Vietnam (209.804, up 57%), the latter two above 200.000 annual sales for the first time in history. We welcome Ireland (+31%) and New Zealand (+17%) in the Top 50, whereas Kazakhstan (-40%) and Ecuador (-31%) are kicked out.
Full Year 2015 vs. 2014 Top 50 largest car markets and Full data for 145 countries below.