GlobalData blog: Thailand’s automotive market faces critical challenges amidst shifting regional landscape Thailand’s position in the ASEAN automotive landscape is facing increasing pressure as regional dynamics shift. The country experienced a staggering 26% YoY decline in Light Vehicle (LV) sales in 2024, and the outlook for 2025 remains bleak, with a further contraction of 7% YoY experienced in Q1 compared to an already depressed base duri...

News  Updated at: 2025/06/12

GlobalData blog: GlobalData reduces US light vehicle sales outlook following tariff announcements Under the current tariff implementation, significant risk would be also added to GlobalData's North American LV production forecast GlobalData has carried out detailed analysis on the likely impact of tariffs on automotive imports to the US, including both finished Light Vehicles (LVs) and automotive parts. The following represents a summary of the t...

News  Updated at: 2025/04/10

GlobalData blog: Insights from InterBattery 2025: Korean battery manufacturers showcase innovations amidst global market challenges GlobalData attended the 2025 InterBattery event in Seoul, Korea, from March 5-7, 2025. This year, 688 exhibitors participated, including Korean battery cell manufacturers, raw material providers, and manufacturing equipment suppliers. Concurrently, the Korean Battery Industry Association (KBIA) hosted The Battery Con...

News  Updated at: 2025/03/14

GlobalData blog: Australia: Asia’s mature market down under After a record-breaking year for the Australian LV market, Trump's protectionist trade policies and China’s slowdown are risks to the import-dependent market. 2024 was a record-breaking year for the Australian Light Vehicle (LV) market. Total sales in the country reached an all-time high of 1.21 mn units, representing a 1.8% expansion, and surpassed the 1.2 mn-unit mark for the first...

News  Updated at: 2025/02/14

GlobalData Blog: Thailand’s automotive industry at a crossroads Thailand’s automotive industry stands at a crossroads. While it remains a significant player in the ASEAN region, its traditional strengths are under pressure from global trends and domestic challenges. Thailand, formerly known as “the Detroit of Asia,” is losing its competitive edge as a major auto production hub and exporter, as overseas buyers are increasingly switching to...

News  Updated at: 2024/12/12

GlobalData blog: GlobalData initial impact assessment of the US election result on Heavy Trucks History suggests that the US election result is unlikely to have a material impact on the global truck industry in the very near term beyond creating uncertainty. In the mid- to long-term, however, the impact of Trump’s return to the presidency could be significant, particularly via emissions regulations, trade, and the focus on domestic manufacturin...

News  Updated at: 2024/11/19

GlobalData blog: Are more expensive cars here to stay? The prices of light vehicles surged in the aftermath of the pandemic, but will they ever come down? No, it isn’t your imagination – vehicles really have become significantly more expensive over recent years. Before the COVID-19 pandemic began, Light Vehicle (LV) prices mostly tracked with inflation in the wider US economy, and average disposable incomes were also rising in line with price...

News  Updated at: 2024/10/04

GlobalData blog: The India vs. China discussion A comparison between India and China often emerges as a focal point in discussions and industry conferences. A recurring question is whether India’s automotive market will encounter a take-off point akin to China’s. In my assessment, this scenario is improbable. There are obviously major disparities between these two Asian behemoths, ranging from their forms of government to the development, com...

News  Updated at: 2024/10/02

GlobalData blog: Soaring Chinese vehicle sales in South America, opportunities and challenges ahead In South America, sales of vehicles imported from China have been exploding. Across the region, our forecast shows that vehicles imported from China are poised to account for 24% of the total market in 2024. In Brazil, vehicles imported from China have been growing strongly and Chinese imports are anticipated to more than double year-on-year (YoY) ...

News  Updated at: 2024/09/10

GlobalData blog: Asia-Pacific light vehicle production forecast to slow Asia-Pacific’s Light Vehicle (LV) production ended 2023 on a high note. The region’s production expanded nearly 10% year-on-year (YoY) to a record-high level of 51.8 million units thanks to the robust pace of production in China and Japan, and to a lesser extent, Korea and India. Strong exports were a key driver for growth in the mainland and China became the world’s la...

News  Updated at: 2024/02/29

GlobalData blog: The Asian sales outlook – slowdown ahead The Asian automotive market finished 2023 with phenomenal results. Total Light Vehicle (LV) sales in the region reached an all-time high of 46.1 million units (+9.3%), exceeding the previous record-high of 44.5 million units in 2017. Out of the twelve Asian countries that we tracked in detail, four countries broke their records and registered their all-time highs: China*, India, Australi...

News  Updated at: 2024/02/08

GlobalData blog: Thailand set to be relegated to 3rd place in the ASEAN LV market in 2023 For more than a decade, Thailand and Indonesia have taken turns to be the largest and second-largest Light Vehicle (LV) markets in the ASEAN region. However, 2023 will be a challenging year for Thailand to maintain its position within the top two markets in the region. For the first nine months of this year, Indonesia held on to the top spot with cumulative ...

News  Updated at: 2023/12/12

GlobalData blog: Is global automotive capacity headed for a day of reckoning? The recovery in global Light Vehicle (LV) demand in 2023 has been stronger than expected, as supply constraints eased in most markets. The outlook for 2023 has been increased by 4%, from 85.8 million units in January to 89.2 million units in November. However, this recovery and, more specifically, consumers still face headwinds from high vehicle prices (with the excepti...

News  Updated at: 2023/11/22

GlobalData blog: Can Vietnam remain as Asia’s rising star? The Vietnamese economy and automotive market have been growing fast, in the shadow of its giant neighbour, China. Since the country signed a trade agreement with the US and joined the WTO in the 2000s foreign investment and exports have surged dramatically – and helped boost the nation’s income. In more recent years, the economy has benefitted from global corporations (and even Chin...

News  Updated at: 2023/11/07

VDA adjusts forecasts for German and European passenger car markets On May 2, the German Association of the Automotive Industry (VDA) announced that in the first quarter of 2023, the global passenger car market continued its recovery from the effects of the Covid pandemic. The supply situation in the supply chains in particular has eased noticeably, and the extraordinarily high order backlog has been reduced somewhat. As a result, a more posi...

News  Updated at: 2023/05/02

LMC Automotive blog: India, set to become the world’s third-largest LV market The Indian market is roaring back. At the height of the pandemic, Light Vehicle (LV) sales plunged to a ten-year low of 2.8 mn units in 2020, a 30% decline, compared to 4 mn units in 2018.  In the last two years, however, the market rebounded strongly – indeed, so strongly that sales reached a record high of 4.39 mn units in 2022, surpassing Japan’s dismal 4.17 m...

News  Updated at: 2023/05/02

LMC Automotive blog: A change in automotive fortunes is coming The post-pandemic period has been characterised for the automotive industry, perhaps above all other things, by the profound shortage of semiconductors. The effect on the new vehicle industry has been dramatic, causing global industry volume to be at levels we would in more normal times associate with a severe economic recession – at least as bad as the Global Financial Crisis. As a...

News  Updated at: 2023/03/15

LMC Automotive blog: Argentina Light Vehicle production: early pandemic recovery or simply recovery? Light Vehicle output in Argentina attained great heights over the course of 2022 reaching 554,000 units and achieving 23% growth year-on-year. This growth seems to paint a picture of recovery from the supply shortages plaguing the industry, but is there more to the story? Argentina’s pre-pandemic environment is also at play in the growth achieve...

News  Updated at: 2023/02/28

ansion in production in the country? Morocco’s performance continues to prosper on the African continent and internationally despite the effects of the COVID-19 pandemic and the war in Ukraine. 2022 saw 10% YoY growth in production, hitting an all-time high for the country, with just over 470,000 light vehicles being produced. The country has put in place many measures to attract foreign investors, such as high-quality infrastructure, human cap...

News  Updated at: 2023/02/07

LMC Automotive blog: What can we expect from the US auto market in 2023? There is no escaping the fact that 2022 was a disappointing year for the US Light Vehicle market. What was initially expected to be a year of solid recovery ended with the lowest sales since 2011. We were not alone in missing the mark with our outlook and neither was the US the only one to unexpectedly struggle across the world last year. However, the reasons are not particu...

News  Updated at: 2023/01/18