Growth in global auto sales is expected to slow down in 2018 while remaining at record levels according to a recent report from IHS Market.
The business information company forecasts moderate growth of 95.9 million light vehicles to sell in the coming year up 1.5% on 2017. At 14:19 GMT, Tokyo-listed Toyota was down -2.86%, General Motors, was up +0.27% in pre-market trading and Volkswagen slipped -0.67%.
Global auto sales in 2017 achieved another banner record year despite weaker than expected auto sales in December with sales volumes decreasing 1.7% to 8.65 million units over the same period last year.
However, total sales in 2017 are expected to post 94.5 million up 2.4% compared with 2016 and looks to be on track for a record gain for the eighth year running.
Regionally, performance will be affected by a confluence of factors dependent on the economic and political climate but milder growth is forecast in the US, Western Europe and China while other markets like South Asia, Russia and Brazil should see accelerated growth.
In the US, strong economic growth is spurring demand which remains healthy and good credit conditions. However, full-year sales volume in 2018 is expected to fall 1.7% to 16.9 million vehicles sold. What may impact sales are an incoming flow of used vehicles and a continued slowdown in passenger car sales as more consumers opt for utility vehicles.