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New-vehicle sales in February 2024 projected to reach 1,214,600 units, a 1.4% increase from the previous year; sales driven by higher inventory levels, increased manufacturer incentives and lower retailer profit margins: J.D. Power and GlobalData

December Canadian retail sales rose 0.9% year-over-year to C$67.3B, largely driven by auto sector, which accounted for 77% of increase; new car sales at dealers up 2.4% YoY, while parts, tires and accessory sales dropped 2.7% YoY: Statistics Canada

Global car sales growth expected to slow in 2024 after robust 2023 performance influenced by pent-up demand; momentum forecasted to range around +2.6% globally, led by China with growth of +3.0% while Europe and US expect +1.5% and +2.0% respectively

Tesla recalls over 8,000 vehicles in China due to software issue causing reverse camera dysfunction; recall involves select imported Model S and Model X EVs and some locally produced Model 3 vehicles

Volvo Cars to distribute US$920.17M stake in Polestar Automotive Holding to shareholders; Volvo plans to retain an 18% stake after completion

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