Taking an overall look at Mexico's economy, in 2023, investment activity was intensified due to the trend of "friendly-shoring" and "near-shoring" against the backdrop of the intensification of the US-China conflict and the increasing geopolitical risks due to Russia's invasion of Ukraine, and the GDP growth rate reached 3.2%. However, the economic slowdown became clear toward the second half of 2024, with the annual growth rate remaining at 1.3...

Market & Tech Reports  Updated at: 2025/04/30

lobalData’s Medium- and Long-term US Production Forecast, Light Vehicle production in the US will be 10.84 million units in 2028, which is 6.2% increase from 2024, after a slight decrease in 2025. GlabalData expects the vehicle demand will show the stable growth throughout this forecast period as GDP of the US is growing at around 2% or more. Production increase will be supported by this market growth. In the forecast for 2025 though, excessive...

Market & Tech Reports  Updated at: 2025/02/21

Q4 2024 (Jan. 2025) Chinese Market Q3 2024 (Nov. 2024) Chinese Market H1 2024: New Vehicle Sales Exceed 14M Units, NEVs 4.9M (Aug. 2024) Chinese Market Q2 2024 (Aug. 2024) Chinese Market Q1 2024 (May 2024)       According to a report by the National Bureau of Statistics of China in January 2025, GDP for the full year 2024 increased by 5.0% y/y to about CNY 134.9 trillion. Growth in the first quarter (Q1) of 2024 increased 5.3% y/y, 4.7% in Q2,...

Market & Tech Reports  Updated at: 2025/02/19

end of the year, potentially dampening sales momentum as 2024 concludes.     Driven by steady vehicle production in the country, a strong aftermarket, and growth in exports, the auto component industry registered a robust growth. The Indian auto components industry accounts for over 2% of India's GDP currently. The Auto Components industry in India is expected to grow to USD 200 billion by 2026.   According to the Automotive Component Manufact...

Market & Tech Reports  Updated at: 2024/12/23

024, the company revised its full-year 2024 earnings forecasts for Cars and the Group downwards, and confirmed this in its full-year earnings forecast for the third quarter announced in October. It attributes the recent deterioration in performance to the macroeconomic outlook, particularly slowing GDP growth in China, weak consumption and continued sluggishness in the real estate sector.   The Mercedes-Benz Group has announced that it will care...

Market & Tech Reports  Updated at: 2024/12/06

026 units, down 18.6% YoY.   Difficulty in accessing auto loans was still the main reason behind the sales decline. Financial institutions were also worried over YTD auto loan NPLs that have already surpassed THB 259 billion and the high household debt that has already exceeded 91% of Thailand’s GDP. The FTI also pointed out that the delayed budget bill for the 2024 fiscal year has also delayed new activities and investments of both public and...

Market & Tech Reports  Updated at: 2024/11/26

y strong in October, as volumes expanded by 21% YoY, reaching almost 250k units. With the country experiencing a bump in sales, the selling rate grew to 2.86 mn units/year in October, up from 2.71 mn units/year in September, and the highest for any month since January 2015. Low unemployment, robust GDP growth and more generous discounting appear to be combining to return Brazilian sales to pre-pandemic sales levels, after several weaker years. In...

Market & Tech Reports  Updated at: 2024/11/19

(fuel cell vehicles).   Related reports:Chinese Market Q2 2024 (Aug.2024)Chinese Market Q1 2024 (May. 2024)Chinese Market 2023: Sales Exceed 30m; BYD Dominates NEV Market (Mar. 2024)        According to an announcement by the National Bureau of Statistics of China on July 17, 2024, China's GDP in the first half of 2024 increased by 5.0% y/y to CNY 61.6836 trillion. Q1 (January - March) was up 5.3% y/y, and Q2 (April - June) was up 4.7% y...

Market & Tech Reports  Updated at: 2024/08/20

akes to the European economy. The industry directly and indirectly employs 13 million people and invests EUR 73 billion per year in research and development. The industry also generates a trade surplus of EUR 100 billion and government revenues of EUR 390 billion, making it a key driver of the EU's GDP.   Challenges in the transition to electric vehicles Ms. De Vries posed three key questions to the audience: Are electric cars affordable for t...

Market & Tech Reports  Updated at: 2024/08/09

could overtake Japan to become the world's third largest producer of auto parts in the next few years, according to the president of the Mexican Auto Parts Manufacturers Association (INA) (reported by Mexico-Now in April 2024).   Looking at the Mexican economy as a whole, real domestic production (GDP, seasonally adjusted) in 2023 is reported to have increased by 3.2% y/y (Mexican National Institute of Statistics and Geographic Information (INGE...

Market & Tech Reports  Updated at: 2024/06/14

erscholle GmbH) AI Strategy Budget China: USD 28.3 Billion, USD 20.04/person (in 2022)Germany: USD 0.5 Billion, USD 6.37/person (in 2024)China's population is 17 times that of Germany. (CAR IT Symposium 2024, organized by CAR - Center Automotive Research, Duisburg, ©Kaiserscholle GmbH)   GDP per capita growth for the top 40 countries from 1990 to 2019 (CAR IT Symposium 2024, organized by CAR - Center Automotive Research, Duisburg, ©Ka...

Market & Tech Reports  Updated at: 2024/05/07

of Japan since 2022, making India the world's third largest auto market (2022: 4.76 million units, 2023: 5.08 million units, Japan: 4.2 million units, 4.77 million units, respectively). The country continues to grow economically, and according to the IMF (International Monetary Fund), the country's GDP is expected to surpass that of Japan by 2026.   Maruti Suzuki's domestic sales in India are steadily increasing, and exports, which began in 1986...

Market & Tech Reports  Updated at: 2024/03/13

2023)Chinese Market Q2 2023: Major State-owned and Non-Chinese OEMs Announce NEV Strategies (Aug. 2023)Chinese Market Q1 2023: GAC, Chery and Geely Announce 2023 Product Plans (Apr. 2023)     According to the January 2024 announcement by the National Bureau of Statistics of China in January 2024, GDP for the full year of 2023 increased by 5.2% y/y to about CNY 126 trillion. Growth in the first quarter (Q1) of 2023 was 4.5% y/y, 6.3% in Q2, 4.9%...

Market & Tech Reports  Updated at: 2024/03/06

billion, up 15.3% y/y. MarkLines Data Center shows that 2023 new vehicle sales in Thailand decreased by 5.1% y/y to 841,448 units. Thai domestic sales were impacted by stringent requirements for auto loans, especially for pickup trucks, household debt level which has exceeded 90% of the country’s GDP, an economic slowdown, and a delay in the 2024 fiscal budget.   In January 2024, the FTI announced that its outlook for vehicle production in 202...

Market & Tech Reports  Updated at: 2024/03/05

4%, respectively.   According to the FTI, the increased auto loan rejection rates, especially of pickup trucks, with stringent requirements of financial institutions are mainly to blame for causing the decline in 2023 sales. Moreover, household debt level has already exceeded 90% of the country's GDP. There was also an economic slowdown and a delay in the 2024 fiscal budget.   Vehicle production in Thailand in October, November, December decli...

Market & Tech Reports  Updated at: 2024/02/16

re some of the reasons that drive investment from OEMs, component suppliers, service providers and technology companies.   The automotive industry in India has a market value of USD 174 billion (2023). According to the Government of India, the automotive industry accounts for 7.1% of the country's GDP and 49% of manufacturing GDP in 2021.   For the growth of the automotive industry, the government has approved 100% foreign direct investment (FD...

Market & Tech Reports  Updated at: 2024/02/05

e raised the sales forecast by 1.06 mn units for 2023, over 1 mn units/year for 2024 and 2025, and about 640k units for 2026. But it should be noted, however, that near term downside risks mainly from the liquidity crisis in the real estate sector (said to directly and indirectly account for 25% of GDP), declining exports, and high youth unemployment.USAThe US Light Vehicles (LV) market has performed relatively robustly in 2023 to date, despite a...

Market & Tech Reports  Updated at: 2023/10/27

  India is one of the fastest-growing automotive markets in the world. In 2022, India became the third-largest car market in the world after China and the US despite the industry recovering from the COVID-19 pandemic and its after-effects. The automotive sector contributes around 7% of the Indian GDP. The automotive segment in India provides direct and indirect employment to over 19 million people.   During the year, the passenger car segment ...

Market & Tech Reports  Updated at: 2023/09/19

Tesla, February 2023 (Feb. 2023)   This report is for MarkLines subscribers only. 12 pages remaining.Free membership registration allows you to read the rest of the article for a limited time.   According to an announcement by the National Bureau of Statistics of China on July 17, 2023, China's GDP in the first half of 2023 increased by 5.5% y/y to CNY 59.3034 trillion. Q1 (January - March) was up 4.5% y/y, and Q2 (April - June) was up 6.3% y...

Market & Tech Reports  Updated at: 2023/08/21

reached 406,131 units or a 5.0% contraction YoY. The key negative factor, pointed out by the FTI, was the strictness in auto loan approval process of financial institutions, especially for pickup trucks and 5-10 ton trucks, amid the rising household debt that has swollen to 90.6% of the country’s GDP. Besides, the country’s ongoing political uncertainty and the delay in new government formation could also hold up a decision of prospect buyers...

Market & Tech Reports  Updated at: 2023/08/21