Turnover of automobile manufacturers remains stable
Manufacturers earned less money in the first quarter of 2019
The first results of the first quarter indicate that automobile manufacturers worldwide have generated the same turnover but less profit so far in 2019. Although sales remained stable during the quarter, fewer vehicles were sold than in the same period of 2018. 28 car manufacturers sold a total of 20.23 million vehicles (comprising passenger cars, light commercial vehicles and heavy trucks). This was 861,000 fewer than in the first quarter of 2018 – a decline of 4.1%.
Many reasons for the decline in profits
The slowdown is most significant in the Chinese market, where sales fell by 11%. It has been the main driver of growth over the last 15 years, but demand for vehicles has fallen as a result of higher household debt and trade barriers with the US. Growth in the US and Europe is also slowing. That leaves very few markets open for car manufacturers to grow and make money.
Further figures for the first quarter can be found on the international blog.