The international automotive markets experienced “a dynamic and positive first quarter”, according to German industry association VDA.

Audi

With the exception of the Chinese market, all major automotive regions recorded significant increases in new registrations compared to the first quarter of the previous year.

In Europe, Japan and the US, the market is currently benefiting from what VDA called “a gradual improvement in the supply situation and from the weak prior-year figures”.

Around 3.2 million vehicles were newly registered in the European passenger car market in the first quarter of 2023, an increase of 17% year on year.

In the US, light vehicle sales (passenger cars and light trucks) increased by 8% year on year to reach 3.6 million. The increase in Japan was of 17%, with consumers there buying 1.2 million units.

The figure for China was 5.1 million new vehicles, a fall of 7% compared to the same quarter last year.

Writes www.leatherbiz.com