These were the World’s Top-500 Best-Selling Cars in 2022

After weeks of research and requests, I finally completed my annual file with global sales data by make and model. In total I was able to collect information for 152 markets around the world that include the following:

Main findings

New vehicle sales down by 2% vs 2021 to 79.4 million units. In 2021: 80.7 million units.
The decline was the result of challenges to the demand in the world’s 2^nd and third largest markets, USA-Canada and Europe, and stalling sales in China. The three of them made up almost 69% of the global total. These challenges were related to the lack of new cars available as a consequence of supply chain problems, lack of semiconductors.
The results posted by these three markets were big enough not to be offset by positive changes in Latin America, India, South East Asia and Oceania, the Middle East, and Africa. These markets, mainly emerging economies, represented 24% of the global total.
Another driver of the sales decline was the war between Russia and Ukraine. The invasion in Ukraine, and the sanctions on Russia, had a big impact on their sales, especially in the case of Russia, which was the 11^th largest light vehicle market in 2021, and became the 21^st last year. Sales there dropped by 59%, or almost 1 million units.
In contrast, the demand in India soared by 24% to a new record of 4.37 million units. The additional 851,000 units compared to 2021’s total, allowed India to outsell Japan and become the world’s third largest car market. Still, the total number of new vehicles sold per 1000 inhabitants is extremely low, at 3.1 units, the lowest result among the top 25 largest vehicle markets.
In Latin America, the conditions improved thanks to a limited recovery in the Mexican market, and better conditions in Chile. In any case, this region, the largest among the emerging markets, still lags behind the developed world in terms of new cars per 1000 inhabitants, of only 7.7 units vs 16 units in China, 21 units in Europe, and 41 units in USA-Canada.
The other bright spot in 2022 was the South-East Asia-Pacific region. Indonesia almost bet Australia as the largest market in this region with a double-digit growth. It was one of the consequences of a rebound of its economy, more international tourism, rising private investment, and strong consumer spending. Malaysia surpassed the 700,000-unit mark for the first time thanks to some tax exemptions policies during the year.
Financial incentives and post-pandemic measures and benefits boosted the demand in the Middle East, where the Gulf Cooperation Council six countries made up 46% of the 2.75 million units sold. This region is due to play a more relevant role within the international automotive context as Saudi Arabia, the world’s 19^th largest car market, aims to become an ev hub. The country’s sovereign wealth fund has recently acquired key stakes on companies like Lucid Group and Aston Martin, while it is expected its investments in EV production to reach $50 billion over the next decade.
Finally, Africa’s volume increased by 5.5% to 1.15 million units driven by a 14% increase posted by the South African market, the region’s largest. Sales in this country represented 44% of the continent’s total, and were boosted by a recovery in the travel, tourism that buoyed the rental market. Northern Africa’s volume accounted for 42% of the continent’s total. Southern Africa represented 45%. Eastern, Central, and Western Africa accounted for 4.8%, 1.3%, and 6.7% of the total respectively.