The latest Automotive World Datablast contains a wealth of information on light vehicle production by region, country, vehicle company and models. This commentary provides on the key regional and country information and highlights the best-selling models globally for 2023 and our current projections for 2024. Future data updates will provide detailed regional and vehicle company specific commentary. A similar commentary on registrations data will follow soon.
Global light vehicle (LV) production in 2023 was just under 78.7 million, and is projected to fall slightly, by 0.2% to just under 78.5 million in 2024. LV production is still recovering post-COVID and after the supply chain distribution following the chip crisis; in addition, production this year has been hit by the slowdown in electric vehicle (EV) sales in Europe especially, the cost-of-living pressures on consumers and delays in new product launches. These will all contribute to the continued delay in the recovery to pre-COVID volumes.
