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74 million cars will be produced in 2015 according to forecast


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74 million cars will be produced in 2015 according to forecast

Around 74 million cars will be produced in 2015 says research by a leading Canadian bank.

Scotiabank reveals in its global automotive report that 71 million cars were built in 2014 and next year this will be topped by a further three million.

China will continue to grow the most with demand expected to increase by seven per cent to nearly 19.5 million vehicles despite concerns over the country’s economic slowdown with CUVs (Crossover Utility Vehicles) going up by 40 per cent every year. The Canadian bank estimates that nearly 20 per cent of all new vehicle sales are financed in China and this figure is up 10 per cent from 2010.

The USA is forecast to surpass the 17 million unit mark in 2015 – the highest since 2001 - followed by Western Europe has a whole totalled at more than 12 million with car sales from Germany making up around a quarter of this figure.

It was not all good news, however, as a faltering economy reduced volumes in Eastern Europe to their lowest levels in five years of more than three million including just over two million from Russia.

The market remains challenging in South America with the forecast also down from 4.15 to 4.09 but India, Canada and Mexico all predicted slight increases.

With new car sales across the globe remaining reasonably healthy in 2015, it suggests the used car market will also benefit from this with customers selling their old cars to buy new ones.

Indeed, 2014 saw the biggest number of new cars sold in the UK for a decade, and at Sell Your Jamjar, we are expecting another busy year – our 16th since we opened for business as the first online car buying service way back in 1999.

As part of our continuing efforts to make life as easy as possible for our customers when selling a car, we have now reduced the number of pages on required when you valuing your car.

This means it is now possible to value your car in just 30 seconds. Sell your car to Sell Your Jamjar today.

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