The global automobile market witnessed continuation of growth trend observed over the past five years. The momentum continued in 2017 with 96.8 million automobile vehicle sales observed during 2017 as compared to 93.9 million sales during 2016. With moderate growth and margins better than previous years, and positive sentiment, 2017 can be perceived as another good period for automotive sector.
Emerging markets including China, India and Iran led the growth in 2017 with the three markets contributing 59% of growth volume. Russian demand was unable to revive in 2017 as sales stood around 1.6 million as compared to 2.6 million in 2014. Japan, on the other hand, quickly recovered from the dip observed in 2016 by reporting 0.27 million growth during the year.
European demand also increased moderately recording 0.78 million additional sales during 2017. Moderate increases in Russia, Italy, France, Spain and Germany were observed but the UK markets could not sustain the growth trend observed over the past few years. The region suffers from overcapacity issues and intense competition is resulting in competitive prices, forcing profits downwards.

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