⋆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 sales are forecast to increase by 2.0% YoY to 88.6 mn.

-The outlook for the global LV market remains that of an upward trajectory over the next few years, even though it is at a slightly lower level than previously forecast.

-With Donald Trump winning the US presidential election, automotive-specific policy could be reshaped, including in the areas of EV tax credits, emissions standards, and autonomous vehicle regulation. Should tariffs materialize on Canada and Mexico, there is a downside risk to US sales of 500k to 1 million units per year.

-From the previous update of this report, GlobalData has made further downward revisions to the European LV forecast. The lacklustre performance of Western Europe in 2024 has led GlobalData to take a more cautious view of market activity going forward. Pricing remains a cause for concern, even though the economic situation is slowly moving in the right direction for consumers.