Vehicle Sales Pump Up Global Trade
WTO says EV demand is stoking bigger gains for auto sales, production and electronic components.
Report says rising global demand for electric vehicles is behind the increase in automotive sales and production and in electronic components.
IMAGE: Pexels/Pixabay
Automotive sales, particularly the electric kind, strengthened by reviving inventory after the pandemic-era tightening, have in turn buoyed global goods trade.
The most recent World Trade Organization Goods Trade Barometer, which gives an early picture of merchandise trade related to recent trends, indicates trade is rising close to its baseline value of 100.
The WTO said in its index report that the reading shows trade volume has been gradually moving toward its medium-term trend in the second half of the year. It warned, though, that mixed economic signs and geopolitical tensions could interrupt the rise.
The organization said increasing global demand for electric vehicles is behind the increase in automotive sales and production, with an index value of 110, and in the No. 2 trade grower, electronic components, not far behind at a value of 109.8.
Originally posted on Auto Dealer Today
More Industry
World EV Adoption Set to Grow
A new report says the segment, despite recent setbacks in some regions, is poised for acceleration as many countries look to reduce pollution.
Read More →
Black Book: Weekly Market Update
Wholesale automotive auction business stayed steady last week as bidders encountered lower prices, analysts observed.
Read More →
Pricing Transparency Drives Purchase Consideration
An annual study by JD Power found that clear pricing matters to consumers on automaker websites, so much so that it increases their purchase consideration.
Read More →
Black Book: Weekly Market Update
Used-vehicle market depreciation was the prevailing story in the wholesale market last week.
Read More →
Smaller Is Looking Better
A growing number of Americans in the market for a new vehicle are opting for more affordable options, not waiting for market stability to bite the bullet.
Read More →
U.S. EV Market Slowly Stabilizes
U.S. electric-vehicle interest is slowly stabilizing since a major dip in sales after last year's end of the federal EV tax credit, and hybrids remain the leading electrified power train.
Read More →
Global EV Market Entering New Phase
Automakers are making investments to lower battery costs and optimize production to meet changing consumer needs.
Read More →
Black Book Weekly Market Update
The holiday weekend, not surprisingly, put a drag on wholesale automotive activity last week, analysts observed.
Read More →
Auto Affordability in Context
Cox Automotive points out the complex circumstances that have led to eye-popping vehicle prices.
Read More →
Black Book: Weekly Market Update
Automotive auction inventory increased last week, giving choosy bidders even more leeway.
Read More →