Global Automotive Industry Introduces 45 New Cars in Q3
The global automotive industry unveiled a total of 45 new cars between July and September this year. These include the final production versions of vehicles, some of which may not be available for purchase just yet. It’s worth mentioning that light commercial vehicles are not included in this count, but pickup trucks are. The cars launched in this period spanned across various regions, such as China, Japan, Korea, the United States, Europe, and India, including other emerging markets. However, it’s important to note that the Iranian auto market was excluded from this count. Despite the slowing growth in new car sales worldwide, the industry remains busy and focused on innovation.
Expanding further on the 45 launches in Q3, a total of 90 new models were introduced in the past six months alone, as shown in the chart below. While many of these new models are electric, there is still a considerable number of cars with internal combustion engines.
Breaking down the origins of the new car models seen in Q3 2023, China takes the lead with half of the launches, totaling 23 new cars. This serves as yet another confirmation of the strong push from China’s auto industry. Additionally, many of these Chinese car manufacturers are producing increasingly competitive models that have the potential to go global. It’s highly possible that a significant portion of these new cars will be available in foreign markets in the near future. The remaining new car models introduced in Q3 came from Europe, the United States, Korea, and Japan. Among European brands, German companies presented the most new cars with five, followed by British brands with three, and France and Italy with two and one new model, respectively. Japanese manufacturers launched a total of five new models, while their South Korean counterparts introduced four. American manufacturers trailed behind with just two new models.
Leading the pack in terms of the number of new cars introduced during this period is the Hyundai Group. They unveiled several notable models, including the fifth-generation Santa Fe, the Kia K3 (which will be manufactured in Mexico for emerging markets), the fully electric Kia EV5, and the coupe version of the Genesis GV80. Mercedes-Benz followed closely with three new launches, including the second-generation AMG GT, the CLE Coupe, and CLE Cabriolet. China saw several brands, such as Geely, FAW, and BYD (one of the country’s most dynamic original manufacturers), unveil three new models each.
In addition, a total of 12 automakers presented two new models, while five automakers showcased a single debut for this period.
The author of this article, Felipe Munoz, is an Automotive Industry Specialist at JATO Dynamics.
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