China's auto market contracts, Europe alone grows, Taiwan auto suppliers face risks

Global passenger vehicle registrations totaled approximately 46.77 million in the first eight months of 2026, down 6% year-over-year. The market is expected to contract 3.4% for the full year, as China's domestic market plunges, Europe remains the only growth market among China, Europe, and the US, and the war involving Iran drives up oil prices and freight costs, creating both risks and opportunities for Taiwan's automotive suppliers.