China remains the largest automotive market in the world in 2024. Which countries are next?

China remains the largest automotive market in the world in 2024. The countries that complete the list of the most important global automotive markets saw growth in the first half of 2024 in most cases, though differences in growth rates remain significant.

China, the largest automotive market globally, registered 9,856,000 vehicles from January to June 2024, reflecting a 3.3% increase compared to the same period the previous year. The slower growth rate was driven by reduced spending on durable goods by Chinese consumers, a trend that was particularly evident in the second quarter of the year.

The United States retains the second position, with 7,810,700 vehicles registered in the first half of the year, marking a 2.1% increase compared to January – June 2023.

Europe, encompassing the EU countries, EFTA, and the UK, ranks third in the global automotive market standings, with 6,878,400 vehicles registered. This figure is slightly lower than the 6,879,438 vehicles reported by ACEA (European Automobile Manufacturers’ Association). Despite the minor discrepancy between the data from the two associations, it is important to note that within Europe, Germany has the largest market with 1,471,641 units, followed by the UK (1,006,763 units) and France (914,886 units).

India holds the fourth position in the global automotive market rankings, with 2,161,500 vehicles registered in the first half of the year, representing a 7.3% increase compared to the first half of 2023.

Japan is fifth, with 1,800,100 vehicles registered, showing a decrease of 12.1% compared to the first six months of 2023.

Brazil and Mexico follow, with 1,078,300 and 707,700 vehicles registered, respectively. Both markets experienced increases of over 10% from January to June 2024.