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In recent years, the environmental impact of fuel combustion by motor vehicles has garnered increased attention, and a growing number of governments have started implementing regulations to curb emissions from these vehicles. As a result, the market share of electric vehicles is rising, especially in passenger cars, light-duty commercial vehicles, and two-wheelers. Medium- and heavy-duty vehicles face challenges, including long charging times and inaccessible charging infrastructure, leading to a slower development of the new energy commercial fleet.
This shift to more sustainability is echoed by growing technological disruption. Advancements in connectivity features and electronic content in vehicles are projected to impact safety features and pave the way for the introduction of fully autonomous vehicles. While innovation plays a key part in market development, the socio-political context, geographical factors, and consumer preferences also impact the industry.
Global car manufacturing industry revenue between 2019 and 2022, with a forecast for 2023 (in trillion U.S. dollars)
Further details: Visit original statistic Global car manufacturing industry revenue between 2019 and 2022, with a forecast for 2023 (in trillion U.S. dollars)
Passenger cars comprise most of the automotive sector’s sales and grew between 2021 and 2022. However, the global car sales volume has yet to reach the height recorded in 2019, before the COVID-19 pandemic and supply chain shortages that are limiting vehicle availability. Around 67 million cars were sold worldwide in 2022, compared to nearly 75 million in 2019. Global automotive manufacturing revenue followed a similar trend, rising in 2022 but remaining below 2019 values.
Automotive industry worldwideEstimated plug-in electric light vehicle sales worldwide from 2015 to 2022 (in million units)
Further details: Visit original statistic Estimated plug-in electric light vehicle sales worldwide from 2015 to 2022 (in million units)
Important industry segments include commercial vehicles, passenger cars, and two-wheelers such as bicycles and motorcycles. Within the passenger vehicle segment, two vehicle types have gained market shares in the past years: sport utility vehicles (SUVs) and plug-in electric vehicles (PEVs). By 2022, PEV sales were over three times higher than their 2020 volume, soaring over ten million units. Used cars are also steadily gaining popularity amid the global automotive semiconductor shortage.
Worldwide motor vehicle sales by typeGlobal automotive research and development spending between 2020 and 2021, with a forecast for 2022 (in billion U.S. dollars)
Further details: Visit original statistic Global automotive research and development spending between 2020 and 2021, with a forecast for 2022 (in billion U.S. dollars)
Increased environmental consciousness and regulations on fossil fuel vehicles in many countries are changing how the industry operates. Global automotive research and development (R&D) spending has steadily risen, boosted by manufacturers’ interest in new technologies. This race to investments leads to a soaring electric vehicle market, while consumers also turned towards active mobility, such as cycling, to lower their carbon footprint.
Research and development expenses and intensity of selected global automotive manufacturersToyota's net revenue from FY 2012 to FY 2023 (in trillion Japanese yen)
Further details: Visit original statistic Toyota's net revenue from FY 2012 to FY 2023 (in trillion Japanese yen)
Given the frequent challenges and innovation in the field, the automotive sector is a highly competitive market. Toyota and Volkswagen are the most popular brands with the highest global market shares. Manufacturers focusing solely on producing and selling electric vehicles have yet to rank among the best-selling brands worldwide. However, Tesla is one of the most valuable automotive brands, with its Model Y ranked among the five best-selling cars worldwide in 2022.
Most valuable automotive brands worldwideNumber of passenger cars sold in the Asia-Pacific region from 2013 to 2022 (in millions)
Further details: Visit original statistic Number of passenger cars sold in the Asia-Pacific region from 2013 to 2022 (in millions)
The Asia-Pacific region is the largest passenger car market due to the car sales volume in China. This leads to the Asia-Pacific region dominating the overall motor vehicle market, though the Americas record higher volumes of commercial vehicle sales. Commercial vehicles are most popular in the United States, where over 11.4 million of these were sold in 2022. Asia-Pacific is once again the leading region in the two-wheeler market, boosted by China’s demand for motorcycles and bicycles.
Regional passenger car salesStatista’s vehicle and road traffic coverage provides data insights on passenger cars, commercial vehicles, and motorcycles, as well as on bicycles and other micro-mobility and non-motorized transportation modes. These insights include key performance indicators such as vehicle use, sales, and revenue. Statistics also focus on a wide range of topics, such as traffic safety, infrastructure, sustainable and active mobility, consumer behavior, and connected and autonomous vehicles. Reports further give context to the latest trends and challenges in the industry on global, regional, and national levels. Statista also analyzes the performance of various original equipment manufacturers (OEMs), comprised of brand rankings and company deep dives.
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Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)