Global light vehicle sales will fall 3.7% this year to 82.7 million units, according to Automotive World's forecast. China accounts for nearly all of the decline, marking its 12th consecutive monthly sales drop. Q4 demand looks weak despite new regional incentives and discounts from more than 30 brands.
Europe is set to grow 5.1%, aided by electric vehicle incentives and cheaper Chinese models entering the market. North America could slip 1.9% as high prices and stress in subprime lending offset strong fleet and hybrid demand. India's boost from last year's GST cuts is fading fast.
Gains in some regions are partially offsetting decline in the larger markets. Demand remains trending up overall in the top 20 markets outside China.