Caution still remains, however, as tariffs loom large

Global car sales rose 8% year-on-year in March, with substantial contributions from the UK, Japan, and the US. The rebound follows several weak months and reflects the typical seasonal boost in March.

While the return to growth is encouraging, whether this signals a lasting trend remains to be seen. March is usually a strong sales month, so continued improvement in the coming months will be key.

US short-term solutions remain a possibility
Meanwhile, the EU and China are discussing a deal to replace tariffs with a minimum price agreement amid growing trade tensions. However, existing US tariffs on foreign cars could pose a risk to global car exports and seaborne volumes going forward.

That said, there may be some flexibility ahead – President Trump has recently signalled a possible pause or exemptions on specific auto-related tariffs to give manufacturers time to adjust. This could ease some pressure on vehicle trade and car carrier volumes in the near term.