Connected car sales continue to grow around the world

Global connected car sales grew 28% year-on-year in the third quarter of 2023, according to the latest research from Counterpoint’s Global Connected Car Sales Tracker.

It says every two out of three cars sold in during the quarter had embedded connectivity in them. China led with around 33% share in global connected car sales, followed by the US and Europe. These top three regions constituted more than 75% of the global connected car sales.

Commenting on the market dynamics, Senior Analyst Soumen Mandal said, “Germany has the highest share of connected cars in its passenger car sales owing to the initial government push towards connected vehicles through mandates like eCall. After Germany, the US, France, and the UK have the highest share of connected cars in their respective passenger car sales.

With the increasing adoption of electric vehicles and autonomous vehicles, the connectivity penetration in a car is increasing. 4G still dominates this space with more than 95% sales share, while 5G adoption is slower than the industry’s projections earlier. The lack of robust 5G infrastructure along the highways, non-availability of unique 5G use cases within the car, and supply chain issues are some of the reasons for slower adoption of 5G in passenger cars.”

Mandal added, “With growing consumer tech awareness and need for connectivity, the sales of non-connected cars are steadily declining. The top five automotive groups accounted for nearly 45% of the connected cars sold in Q3 2023. Toyota Group led the charts in terms of shipments with a 12% sales share, closely followed by the Volkswagen Group. GM Group, Hyundai Kia Automotive Group and Stellantis were the other three in the top five.”

See the tracker here.

(Graphic: Counterpoint)

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