Global car market set to leave UK behind

The global car industry performed strongly in 2017, with growth driven by a combination of rising incomes, low interest rates and higher levels of corporate investment. These factors supported both an increase in new registrations in passenger cars, which account for 74% of the global total, as well as commercial vehicles. Looking ahead, Euler Hermes expects the global market will continue to grow this year despite projected falls in sales across both the US and UK.