How many cars will be sold worldwide in 2024?

Illustrative photo

As the automotive industry accelerates towards 2024, S&P Global Mobility predicts a significant increase in global sales of new vehicles, writes Protothema.

The forecast shows that 88.3 million new vehicles will hit the market worldwide next year, an increase of 2.8% compared to 2023.

This optimistic outlook is supported by the continued recovery of auto manufacturing, with supply chains and demand gaining momentum. 

S&P Global Mobility also predicts that the transition to electrification appears unstoppable, despite uncertainties in Europe and the US. Many automakers have reaffirmed their commitment to electrification in the coming years, recognizing the challenges of ramping up production of more affordable electric vehicles.

The organization predicts that global sales of battery electric passenger vehicles will reach 13.3 million units in 2024, accounting for about 16.2% of total sales./ CNA

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