4 Million Cars Sold Worldwide in 2024 – Yet Still Below Pre‑Pandemic Levels

2024: The Automotive Rollercoaster—Where Cars Cost More, but Sales Still Stay Low

It’s a busy year for the auto industry—think of it as the long‑haul version of a back‑to‑back concert.
Prices are up, supply chains are tangled, interest rates are climbing, and consumer wallets feel the pinch.

What the Numbers Say

2024 sales target: 70.4 million vehicles – still shy of pre‑pandemic peaks.
YoY growth: +3.6% – the biggest jump since 2018, but not enough to hit the 2016‑2017 high of 85 million.
Price hike (20%): From ~$40,000 in 2019 to ~$48,000 in 2024.
Revenue: $1.98 trillion this year—highest since 2019 and a 5% win over last year.

The Supply‑Chain Saga

Long‑running chip shortages have been easing out, so more cars are finally hitting the roads.
But every extra euro in production and every uptick in interest rates is adding a heavier hand to the price tag.
Bottom line: Even while standings on the road improve, the cost of buying one keeps growing.

Global Sales Timeline

2016‑2017: All‑time high of 85 million+ unidades.
2018: 82.3 million sales, slipping after 2017.
2019: 70 million units.
2020 (pandemic year): 56.5 million, a 25 million drop.
2021‑2022: ~61 million.
2023: ~68 million.
2024 forecast: 70.5 million.
2027 expected: 73 million—first time reaching pre‑COVID levels.

Revenue Highlights

Remember, the auto giant Toyota leads with a 9.9% market share, followed by Ford at 7.55% and Volkswagen AG at 6.7%.
By 2025, the industry is projected to hit a nearby “$2 trillion” milestone, and by 2028 it’ll keep climbing towards $2.08 trillion.

Why SUVs Still Reign Supreme

With a 40% slice of the overall revenue: SUVs bring in $842 billion in total sales.

What It Means for You

If you’re looking to buy a brand‑new ride: Prepare to pay a bit more than before.
If you’re a dealer or manufacturer: Expect tighter margins despite higher prices.
For the environment: More roads means more emissions—so keep an eye on those future trends.