Cars are now selling for more than they were a decade ago, and sales are surging again, according to car sellers.
It’s no secret that the automotive industry has been struggling with the slowdown in global sales.
But, as you might expect, it is also a boon for car buyers.
In 2018, new car sales rose by 15.5% on the year, up from 16.7% in 2017, according the Car Sellers Association.
That’s a significant improvement, but the data shows that many of the biggest players in the industry are still struggling to match their high sales numbers.
The top five buyers are all manufacturers, with Mercedes and Nissan topping the list with 17.7 and 17.1 million vehicles sold respectively in 2018.
Thats not bad, but not the best result.
There are also some notable losers.
Ford, Volkswagen and General Motors all saw sales drop in 2018, and that is likely the result of the new regulations that came into effect in 2019.
Ford has been working hard to increase its profit margins, but it’s not enough to offset its declining market share.
Volkswagen has seen its sales drop from a peak of nearly 10 million cars sold in 2018 to just 7.6 million in 2018 and 7.1 in 2019, according GM.
The problem is that these trends are continuing.
There is also no shortage of other automakers to compete against, and many of them are selling less vehicles than they did a decade or so ago.
The bottom line is that while car sales may be up in 2018 but they are not necessarily going to keep rising, there are still some big players on the horizon who could make a huge impact on the industry in the coming years.
Read more about cars and car sales:Why the car selling industry has a bad reputation and what you can do about it