The automotive industry slowed considerably in the first quarter
of 2019 as global sales, earnings and stock prices stalled and
economic uncertainty and declining consumer confidence continued to
be prevalent in major markets around the globe. However, electric
vehicles have built a stronger foothold globally as Chinese and
U.S. sales opened to record market share levels. Despite global
economic concerns and a string of restructuring announcements,
investments were made around the globe in electric vehicles and
related parts, anticipating an increasing demand in coming
years.
Global light vehicle sales declined 7.4% in Q1 2019 relative to
the same period in 2018 as steep declines in China drove the
market. In the U.S., light vehicle sales declined 3.1% year over
year to 4.0 million units in the quarter.1 In March
2019, U.S. light vehicle sales reached 17.48 million units at a
seasonally adjusted annual rate (SAAR), in line with recent
historical periods.2
