Global Top 10 OEMs Production Forecast (Q2 2023)

Global production in 2023 to increase 6% to 87.43 mill units, up from previous forecast



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-According to a report by GlobalData as of Q2 2023, global light vehicle production in 2023 is estimated to increase 6.0% year-on-year to 87.43 million units. This is an upward revision of almost 1.4 million units from the previous forecast, as production conditions in the US and China are improving at a faster-than-expected pace.

-Although there is a risk that the economic downturn may push down vehicle demand and production, vehicle production is expected to continue to increase in 2023. In the medium term, production forecasts have been revised slightly downward and are cautious due to potential sluggish demand growth and supply issues with raw materials and semiconductors.

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