The global automotive industry introduced 45 new cars between July and September this year. This total refers to final production versions including vehicles that may not be available for purchase just yet.
Light commercial vehicles are excluded, but not pickup trucks. The count includes vehicles launched in China, Japan, Korea, the United States, Europe, India, and other emerging markets, but excludes the Iranian auto market.
Despite slowing growth in new car sales worldwide, the industry appears to be quite busy. Expanding beyond the 45 launched for Q3, we see 90 new models were introduced in the last six months (see chart below). Many are electric, but there is no shortage of cars with internal combustion engines.
China With Half The Launches
New car models that the public saw in the third quarter of 2023 have different origins. China accounts for half of them at 23, which further confirms the strong push of the country's auto industry. Moreover, many of these companies have increasingly competitive models with global potential. A sizable portion of these new cars could arrive in foreign markets in the coming months.
The rest of the new submissions came from Europe, the United States, Korea, and Japan. In Europe, 11 new cars were revealed, including five from German brands, three from British brands, two from France, and a single new model in Italy.
The Japanese manufacturers launched five new models, followed by four from their South Korean colleagues. Only two new models were presented by American manufacturers.
Hyundai-Kia With The Most New Cars
Hyundai Group has the distinction of being the automaker unveiling the largest number of new cars for the period. We saw the launch of the fifth-generation Santa Fe, the Kia K3 which will be built in Mexico for emerging markets, and the new Kia EV5 as a fully electric alternative to the Sportage. We also gained the coupe version of the Genesis GV80.
Mercedes-Benz is next with three new launches for the period, specifically the second-generation AMG GT, the CLE Coupe, and CLE Cabriolet. Meanwhile, in China, several brands launched three new models. They include Geely, FAW, and BYD, one of China's most dynamic original manufacturers. 12 automakers presented two new models, with five showcasing a single debut.
The author of the article, Felipe Munoz, is an Automotive Industry Specialist at JATO Dynamics.
