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User Guide

Global Top 10 OEMs Production Forecast (Q4 2024)

Global production to reach 90.7M units in 2024, 92.1M units in 2025

2025/01/31

Summary
Commentary by GlobalData

Summary

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

-According to a report by GlobalData as of Q4 2024, global light vehicle production in 2024 is estimated to decline by 0.4% YoY to 90.7 mn.

-For 2025, the uncertainty surrounding trade tariffs and an anticipated stabilization in demand have led to a lower full-year production outlook - now projected at 92.1 mn (+1.6% YoY) and representing a downgrade of 826k from Q3 2024.

-While most manufacturers' production forecasts were revised downwards or broadly unchanged, BYD's production forecast was revised upwards by around 300k units/year. This is based on a solid performance of 46% YoY growth. Beyond the Asia-Pacific region, BYD Auto is actively expanding its international footprint, entering 58 overseas markets, including key markets in Europe, South America, Oceania, and the Middle East. Overall, BYD Auto has not only maintained its expansion in the Chinese market but has also started to rapidly develop its presence overseas.

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