AMIC: Car Market Sales Plummet by 65.5% Over 8 Months

A recent report from the Automotive Information Council (AMIC), obtained by Auto Club, highlights a significant downturn in car market sales over the past eight months, with a staggering 65.5% decline. The market saw only 51.1 thousand cars sold during this period, compared to the 148.4 thousand cars sold in the same timeframe last year.

Breaking down the numbers further, sales of private cars witnessed a similar 65% decline, with only 38 thousand cars sold compared to 110.2 thousand cars last year.

The bus market also suffered a downturn, with sales plummeting to just over 5 thousand buses, a stark contrast to the 11.3 thousand buses sold in 2022, marking a 55.7% decrease.

Truck sales fared no better, declining to over 8 thousand trucks sold, down from 26.8 thousand units in the comparative period, equating to a 70% drop.

Despite these gloomy statistics, Japanese automaker Nissan managed to maintain its lead as the best-selling brand over the past eight months, selling 7.8 thousand cars and capturing a market share of 15.3%.

Chevrolet secured the second spot with a 12.7% market share, selling a total of 6.5 thousand cars, while the Chinese brand Chery-Ghabbour ranked third with an 11.5% share and 5.8 thousand cars sold.

Toyota held onto fourth place with a 9.5% market share, selling 4.8 thousand cars, followed by Renault in fifth place with a 6.5% share and over 3.3 thousand cars sold.

The BYD brand claimed the sixth position, increasing its market share to 6.1%, with 3.1 thousand cars sold, while Suzuki came in seventh with a market share of approximately 6%, selling more than 3,000 cars.

In eighth place, MG secured a 5% market share, registering about 2.5 thousand cars, followed by Hyundai in ninth place with a 4.8% share, totaling 2.4 thousand cars.

Kia rounded out the top ten with a 4.3% market share and 2.2 thousand cars sold, followed by Mitsubishi in eleventh place with a 3.8% share, selling a total of 1.9 thousand cars. Opel maintained its twelfth position with a 2.3% market share, recording the sale of 1.1 thousand cars.

Other brands collectively accounted for 12.3% of the market, with a total of 6.2 thousand cars sold during the past eight months of this year.

Breaking down the monthly data, car market sales in August dipped significantly compared to the same month the previous year, with just over 8,000 cars sold, marking a 40% decrease from the 13.3 thousand cars sold in August 2022.

The report further highlighted the decline in sales of private cars in August, with only 6.2 thousand cars sold, down from 8.6 thousand in the same month last year, a decrease of 28.4%.

Bus sales also took a hit, declining to 495 buses, compared to over a thousand buses in August 2022, marking a 51.7% decrease. Truck sales followed the trend, with only about 1.3 thousand trucks sold, down from 3.6 thousand units in the comparative period last year, reflecting a decrease of 64.3%.