Where are the biggest automotive markets?
The largest automobile market worldwide is China (28% market share) and then the US (22.4%). During Q3 both of these markets have shown steady growth in car sales.
Car sales in the whole of the EU increased by 14.6% compared with the same period in 2014. The manufacturer that is leading the way in Europe is the VW Group with a market share of 25.3%, then the PSA Group – 10.5% followed by the Renault Group – 9.6%.
The five biggest car sales markets in Europe are: Germany (24.2%), the United Kingdom (19.7%), France (14.3%), Italy (10.8%) and Spain (6.8%). All have recorded growth in Q3 of 2015 year and have kept recovering.
Germany demonstrated a 7% loss in May 2015 (compared with May 2014) but had recovered by up to 9% in June and continues to show improvements. The most popular brand on the German market is Volkswagen with 21.8% of Market. It is followed by Mercedes with 9.3% and Audi with 8.2%.
United Kingdom’s automotive market has increased more than by 10% in 2015 and has kept growing. As far as best-selling brands are concerned, Ford leads with 12.8% of market share, Vauxhall has 11.6% and Volkswagen 9.2%.
The whole Italian automotive market has demonstrating strong demand, as growth rocketed by 25%. Fiat has 20.5% of market share in Italy. Volkswagen is second with 7.4% and Renault has 6.4% of the market.
Making up the top 5 largest automotive markets in the EU is Spain. Compared with the corresponding period in 2014 car sales are up a whopping 28.2%. Volkswagen sold 8.7% of the whole Spanish automotive market, Renault has 7.6% and Ford with 7.0% in a highly competitive marketplace.
All these positive trends give rise to the hope that the industry is set to enjoy a period of intense growth.
The global automotive market is in the process of changing significantly. What is affecting the future of the automotive industry?
♦ Decreasing cost of software and electronics while their contribution become more innovative
♦ Increasing regulatory requirements
♦ Consolidation of suppliers
♦ Digitization of the industry: more customers using online sources
♦ Customer service expectations are increasing
The process of purchasing a car nowadays is about information, communication and choices. During the coming years the global automotive market will need to find a balance between the traditional way of selling cars and new digital trends in the industry.
According to research by Frost & Sullivan, global online car sales will substantially increase during the next years and 5% of all cars in the world will be sold online by 2020. The internet has started to be a very powerful source for car retail:
In the modern world more people are buying cars online and they want a better digital experience. To be successful in selling cars online the biggest automotive companies (Toyota (15% on the global market), VW Group (25.3% in Europe), Audi (2% on the global market)) use omnichannel solutions: live video, interactive selling platform, virtual showroom solutions, online chat and co-browsing.
Whisbi is the only company that provides all of these channels integrated into one solution, bringing the real dealership experience online.
Click here to find out more about how we have been helping one of our automotive clients to sell more cars and better.