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

-According to a report by GlobalData as of Q3 2024, global light vehicle production in 2024 is estimated to decline by 0.5% YoY to 90.6 mn.

-The global LV production environment remains challenging. Despite a relatively solid start, aggregate LV output in the following two quarters weakened (-1.4% YoY), as higher levels of inventory management in North America and Europe, deeper operational impacts from the vehicle testing irregularities in Japan, and slower than expected market-led output in parts of Asia, undermined volumes. Despite a modest offset from sweetened incentives in China in the closing half of the year, we now expect full-year 2024 global LV production to fall by -0.5% YoY and reach 90.6 mn.