Vehicle sales predicted to accelerate to 100m

Global vehicle sales are predicted to reach 100 million in 2019 despite a cooling in the UK and US markets.

The forecast has been made by Euler Hermes, the trade credit insurer, which examined global data and trends across the automotive sector, focusing on “the race for sales, electric cars, profitability and innovation”.

China followed by India are forecast to boost worldwide sales growth in 2017 and 2018, more than offsetting US and UK sales declines. China, France, Germany, the UK and the US are said to be leading the way on electric vehicle sales with strong growth set to see global stock exceed three million cars in 2017.

Ludovic Subran, chief economist at Euler Hermes, said: “New vehicle registrations are expected to grow globally 2.1 per cent this year, as Europe is on the mend and manufacturers worldwide are making cars ‘cool’ again.”

Global vehicle sales are likely to reach 95.8 million in 2017.