The 10 Biggest Car Markets In The World

By Pune Media On Jan 22, 2025 19

In 2024, almost 65 million passenger cars were sold around the world. That equates to 5.4-million cars per month. That’s a lot of cars spread across the globe. But which country ranks highest with the highest number of vehicles sold for 2024?

2024 Tesla Model Y

Base MSRP: $42,990
Engine: Electric
Horsepower: 295-455 hp
Torque: 309-487 lb-ft
Transmission: 1-speed direct drive
Drivetrain: Rear wheel drive
0-60 MPH: 3.5-6.6 seconds
Top Speed: 155 mph
Electric Range: 337 miles (Long Range RWD)

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You might be surprised to discover which countries have the biggest markets; we take a dive into the numbers that make up 2024’s top 10 biggest new car markets in the world, and which models are preferred by new car buyers in each country.

‘Biggest new car markets’ for the purposes of this feature refers to domestic new car sales registered in 2024, and not manufacturing capacity or exports to other countries. We rank these countries from smallest to largest by number of new cars sold between January and December in 2024.

10

Italy

New cars sold in 2024: 1.56-million

The country that gave us great pasta, red wine and Ferrari recorded around 1.5-million new car sales in 2024. But there is much more to Italy than just great meals and evocative cars. It is also said to be the third-biggest economy in the European Union and the second-largest manufacturing industry in Europe. In short, the Italian economy, once considered one of the weakest in Europe, has evolved into one of the strongest. The booming new car market pays testament to this fact. The best-selling model in Italy is, as expected, Italian. Fiat’s compact Panda is a city runabout, with 4WD options for the winter months. Interestingly, the Jeep Avenger bagged third place, behind the Dacia Sandero in second, and the Panda in first.

9

Russia

New cars sold in 2024: 1.57-million

According to Russian automotive statistical agency Autostat, the Russian new car market has experienced a resurgence in 2024, with sales up more than 48% over 2023. The authority says the top-selling brand was Russian company Lada, and the Granta sedan was the best-selling model in the Lada range. The Granta is a subcompact car developed in partnership with French brand Renault.

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Chinese brands made a notable impact on the Russian market, contributing to the massive year-on-year growth. Chinese company Haval was the second best-selling brand (the Haval Jolion SUV was also the second-best selling model), while Chery, Geely and Changan also recorded notable sales that had a tangible impact on the Russian market.

8

France

New cars sold in 2024: 1.7-million

As one of the world’s original automotive juggernauts, France is still one of Europe’s biggest industrial players. That said, France’s economic forecast for 2025 does not look so rosy. In recent years, political and social upheavals have had a negative impact on the economy.

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Nevertheless, more than 1.7-million new cars were sold in France in 2024. The best-selling model in France was… yep, you’ve guessed it, a French car. It was the Renault Clio, a compact and cheap-to-run hatch. Second place belongs to the Dacia Sandero, another entry-level hatchback; Renault also owns Dacia. And in third place, yet another entry-level hatch: the Peugeot 208. French consumers are clearly leaning towards the more economical side of motoring, which makes sense if you’ve seen how narrow their city streets are!

7

United Kingdom

New cars sold in 2024: 1.95-million

After the COVID-19 sales slump which affected all markets, the United Kingdom recorded another year-on-year increase in new car sales in 2024, with nearly 2-mllion new vehicles registered. German brand Volkswagen was the top-selling brand in 2024, but the top sales performer was the Ford Puma, with nearly 50,000 units sold. In a market with an increasing focus and shift towards electric cars, the Tesla Model Y was the best-selling EV, recording nearly 33,000 sales.

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In 2024, gas-powered cars still accounted for more than 50% of all new car sales, showing the drive towards hybrid and EV and other alternative propulsion methods still has some way to go in the world’s sixth-largest economy.

6

Brazil

New cars sold in 2024: 2.48-million

South American country Brazil’s economy is on the up-and-up. As one of the world’s biggest powers in mining, agriculture, industry and farming – and a resilient domestic market – Brazil now counts itself in the top 10 largest economies on the planet.

Nearly 2.5-million new cars sold in 2024 pays testimony to Brazil’s new status as a top emerging economy. Still, the focus is still very much on practical affordability when it comes to the new car segment. The top-selling model in 2024 was, for the fourth consecutive year, the Fiat Strada, a subcompact, unibody pickup, with 144,000 units sold. The Strada is much smaller than the smallest trucks you’ll find on US roads – 176.4 inches in length compared to the Hyundai Santa Cruz which measures 195.7 inches. VW’s Polo followed in second position, and the Chevrolet Onix in third.

5

Germany

New cars sold in 2024: 2.81-million

With one of the largest automotive work forces in the world, totaling nearly 1-million workers, Germany has traditionally been a European automotive powerhouse. Sales peaked in 2019 when just over 4-million new cars were sold. Times have changed… Germany’s 2024 sales numbers were almost 1% down on the 2023 numbers. With more political, social upheaval and industrial action looming for 2025, the economic prospects are not looking so rosy. Some Chinese car companies apparently already have an eye on soon-to-be-defunct German auto plants. The three best-selling models in Germany in 2024 reads like a Volkswagen sales brochure: Golf, T-Roc and Tiguan, in that order.

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4

India

New cars sold in 2024: 4.27-million

India’s economy is currently the fifth largest in the world. It is said it will be the world’s fastest-growing major economy for the next few years: India’s economy is booming. Major car companies such as Kia, Volkswagen, BMW, Honda, Hyundai, Nissan, Suzuki, Toyota, Renault, Ford, General Motors, Jeep, MG Motor, Tata, Isuzu and Mercedes-Benz have all set up joint venture enterprises in India, with new state-of-the-art manufacturing plants springing up all over the country. Not only do these new facilities service a fast-growing export market, they also supply the domestic market with an array of affordable new cars.

In 2024, the Tata Punch (202,000 units), a compact crossover, ended Maruti Suzuki’s 40-year dominance of the Indian market, outselling the Suzuki WagonR compact hatch (190,000 units). Suzuki Maruti also claimed third place with its Ertiga, a budget-oriented mini MPV.

3

Japan

New cars sold in 2024: 4.42-million

The Japanese auto industry has also been under some pressure in 2024. With major Japanese brands like Honda and Nissan merging, domestic sales are down, with young consumers no longer said to be as keen on owning their own car.

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Still, with nearly 4.5-million cars sold, the relatively small domestic Japanese market is still punching far above its weight. Toyota alone accounted for 1.36-million cars sold in Japan. It is therefore not surprising that the top three best-selling cars in Japan are all Toyotas. The Toyota Corolla just pipped the 2023 bestseller, the Toyota Yaris, with the Toyota Sienta following in third place. In an interesting move, the Japanese automotive sector is very successfully expanding its operations around the world, ensuring its longevity.

2

USA

New cars sold in 2024: 15.97 million

The US automotive sector proved more resilient than many of its international counterparts, recording nearly 16-million sales – a notable 2.2% increase over the 2023 numbers. The EV segment set a new sales record in 2024 with total sales of 1.3-million cars sold. That number represented a significant increase of 7% over 2023. Discounted deals also played a part in moving more cars off showroom floors. According to Cox Automotive data, the average transaction price for a new vehicle in mid-2024 was $307 lower than in mid-2023. Unsurprisingly, the Ford F-Series (730,000 units) recorded the most sales in 2024, followed by the Chevrolet Silverado and the Toyota RAV4. For the record, the all-electric Tesla Model Y followed in fourth position.

1

China

New cars sold in 2024: 31.46 million

It is maybe no surprise that China sold the most new cars in 2024. Measured by automobile unit production, China has been the biggest in the world since 2008. Companies like Tesla, BMW, Volkswagen, Ford, Toyota, Mercedes-Benz, Porsche and Audi – as well as engine companies such as Cummins – all have joint venture set-ups operating in China. In a country where motoring requirements differ vastly from typical European or US needs, small-capacity engines reign supreme, and a car with a V8 under the hood is a rarity.

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Set to arrive under the company’s luxurious Denza brand next year, the BYD sports car is inspired by the roofless Fang Cheng Bao Speed 9 concept.

The top-selling model in China is the BYD Song. The compact crossover is available with a 1.5-liter turbocharged petrol engine, a hybrid drive train, or as a full EV. The BYD Qin PLUS follows in second… this sedan is available as a plug-in hybrid, or a full EV. In third place, a car made in China but with American origins: the Tesla Model Y.

Sources: Focus2Move, MarkLines, AutoStat.

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