The automotive industry has experienced a decline in indexes in the second quarter of 2017, with the European index down 16.1% and the global index down 21% compared to the previous year. Analysts attribute this to declining sales in North America, the less rapidly growing Chinese market, and the increasing cost of developing new propulsion technologies. Meanwhile, overall economic indexes are continuing to rise, with Europe up 19.2% and the global index up 16.1%. Both Toyota and Volkswagen have seen changes in their quarterly sales, with Toyota experiencing a decline (-5.8%) and Volkswagen experiencing growth (+3.4%). The two largest automakers, Toyota and Volkswagen, are now so close in their quarterly sales that they are as close as they were before the diesel crisis, with only 8.1 billion euros separating them. The average sales are 3.5% lower than the previous year. In addition to Toyota, Ford (-2.4%), GM (-17.6%), and Hyundai-KIA (-5.2%) are also experiencing declines in sales. General Motors is selling Opel-Vauxhall to PSA, which is noticeable, and the company is losing its position in the top three of the largest automakers. Hyundai-KIA is also experiencing declining sales, particularly in the important Chinese market, where the North Korea conflict is affecting sales, such as through gradual restrictions and boycott calls from China towards the South Korean company.
