Global Top 10 OEMs Production Forecast (Q1 2024)

Global production to reach 91.7M units in 2024, 94.5M units in 2025

2024/04/26

Summary

⋆An updated version of this forecast report will be released every quarter

-According to a report by GlobalData as of Q1 2024, global light vehicle production in 2024 is estimated to increase by 1% y/y to 91.7 million units.

- Full year 2023 global LV production have reached 90.8 million units, thus returning world LV output to pre-pandemic levels. Nevertheless, deeper economic weakness, market ‘exhaustion’ in China and enduring affordability challenges elsewhere, present key downside risks. In addition, pricing, mix and inventory miscalculations further combine to potentially hamper an increasingly demand-driven LV output volume.

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