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

-According to a report by GlobalData as of Q1 2025, global light vehicle production in 2025 is estimated to increase by 2.4% YoY to 92.4 mn.

-The production forecasts in this report do not reflect the full extent of the US tariffs that were imposed at the start of April (and any related retaliation by other countries), and if the 25% Trump tariffs become entrenched, demand-led global annual output volumes could be undermined by more than 1 million units.

-In 2027, Geely will overtake Ford and Honda to become the world's eighth largest manufacturer. Japanese OEMs are struggling with sales in China and production volumes are also falling. European and North American OEMs have significantly reduced production in the European region, reflecting sluggish demand. Meanwhile, Chinese manufacturers are expected to increase in production due to higher export volumes and newly announced innovative technologies.