in exports of approximately 140% over the previous year, followed by the SAIC Group.   According to a report by the National Bureau of Statistics of China in January 2026, Chinese GDP for the full year 2025 increased by 5.0% y/y to about CNY 140.2 trillion. By quarter, the first quarter (Q1) increased by 5.4% y/y, the second quarter (Q2) by 5.2%, the third quarter (Q3) by 4.8%, and the fourth quarter (Q4) by 4.5%.   In 2025, new vehic...

Market & Tech Reports  Updated at: 2026/02/19

a, and the global chip shortage from supplier Nexperia. Moreover, Mitsubishi production in Thailand was cut after the aging Attrage and Mirage models both dropped out in October. In sum, RNM output fell to around 6.24 mn units in full-year 2025 (-3.6% YoY), driven by the 35% YoY contraction between Q1-Q3 2025. However, we anticipate 8.2% YoY growth in Q1 2026, supported by a recovery in Asia and the Group’s sustained positive outlook in Europe,...

Market & Tech Reports  Updated at: 2026/01/30

101k units, a 2% increase from our previous forecast. PV projections have also been raised across the entire forecast horizon, reflecting improved demand fundamentals and stronger-than-expected market responsiveness to recent policy changes.[JapanHaving downgraded the Japanese LV sales forecast in Q1 and Q2 2025, the latest full-year outlook sees a mild reduction of 129k units compared to previous projections. In Q1 2025, we lowered the forecast...

Market & Tech Reports  Updated at: 2026/01/30

he button below the graph, only the relevant data will be shown. EV (BEV/PHV/FCV) share HV (excluding MHV) share EV (BEV/PHV/FCV) HV (excluding MHV) Other Copyright (C) MarkLines Co., Ltd. All rights reserved. Share of electric vehicles and HVs in 12 major countries and 3 Nordic countries 2023 2024 2025 EV (BEV/PHV/FCV) HV (excluding MHV) Other Copyright (C) MarkLines Co., Ltd. All rights reserved.   The fo...

Market & Tech Reports  Updated at: 2026/01/26

l be upward revisions in our next report to reflect the anticipated sales boost from the GST rate cut and improved economic growth.   LV sales from January to September 2025 remained flat at 3.7 mn units, comprising 3.18 mn PVs and 520k LCVs. The selling rate for Q2 was lower than that of Q1, as difficulties with consumer financing and a broader weak consumer sentiment are hindering LV demand. June’s performance was particularly poor,...

Market & Tech Reports  Updated at: 2025/11/20

in passenger cars. On the other hand, SBW (steer-by-wire) is adopted only in a few cases at present.   From the perspective of the passenger car steering system market, the penetration rate of EPS in the Chinese passenger car market has been increasing year by year, from 81.6% in 2016 to 98.4% in 2023, while the number of passenger cars adopting HPS and EHPS is decreasing.   EPS is also the first choice for New Energy Vehicles (NEVs: BEVs, PHE...

Market & Tech Reports  Updated at: 2025/11/18

rkets have mostly concluded, and we anticipate that the group’s North American production will remain at 2.0–2.1 mn units in our forecast horizon.Volkswagen GroupVolkswagen Group’s global LV build is estimated to have increased by 1.7% YoY in Q3 2025, supporting marginal growth of 0.3% YoY in Q1-Q3 overall, with 6.44 mn units built in January-September. Production has been affected by US sales of the group’s imported models declining by 6...

Market & Tech Reports  Updated at: 2025/10/29

0s, as greater localization of production helps to alleviate tariff impacts.IndiaIn comparison to our previous report, we have raised our 2025 and 2026 sales projections for India by 1% for each year. All other projections remain unchanged.JapanIn addition to a downward adjustment to our outlook in Q1 2025 following the announcement of a new import tariff by the US government, we have implemented a further downward revision in Q2-Q3 2025 due to t...

Market & Tech Reports  Updated at: 2025/10/29

expected to reach pre-pandemic 2019 levels over the forecast, not least because of the threat posed by low-cost Chinese BEVs. Nissan's Light Vehicle Production Forecast (GlobalData, September 2025) (Units) The table can be scrolled left and right. COUNTRY GLOBAL MAKE LOCAL MAKE 2022 2023 2024 2025 2026 2027 2028 Nissan Nissan Nissan 3,104,281 3,457,617 3,228,451 3,070,238 3,102,129 3,106,402 2,899,200 Infiniti Infiniti 77,725 ...

Market & Tech Reports  Updated at: 2025/10/27

e become an essential asset for Koreans, playing a greater role in their transportation options. Another key point to note is that the Korean LV market has yet to reach maturity. As of 2024, only 51% of the population owned a vehicle. Therefore, the long-term prospects remain promising.  xEV   In Q1 2025, Korea’s production of xEVs approached 350k units, marking a modest decline from the previous quarter. Nevertheless, the xEV sector is antic...

Market & Tech Reports  Updated at: 2025/10/23

o strengthening HEV (hybrid electric vehicle) lineup. Based on the HEV platform "Next Generation e:HEV," Honda has set a target of selling 2.2 million HEVs by 2030. Honda aims to reduce the cost of the next-generation hybrid system by over 50% compared to the 2018 model and over 30% compared to the 2023 model. Regarding next-generation autonomous driving technology, Honda will work with the Chinese autonomous driving technology provider Momenta G...

Market & Tech Reports  Updated at: 2025/09/03

production basis will be produced in Taiwan, with sales to the Oceania region scheduled to begin in the second half (H2) of 2026.   In its new mid-term plan "Challenge 2025," MMC clearly states that it will launch a total of 16 models (including 9 electrified vehicles) in the five years beginning 2023. The company has already launched the Minicab EV in 2023, the Xpander HEV in 2024, and the Xforce HEV in 2025. The latest model of the Outlander ...

Market & Tech Reports  Updated at: 2025/07/30

oring in the reduction in volumes due to tariffs, we would have expected sales of approximately 16.1 mn units this year. As tariffs gradually take their toll, we forecast that 53.5% of the year’s sales will take place in the first six months, compared to 49.2% in the equivalent periods in each of 2023 and 2024. While this may not sound like a large difference, it is relatively unusual to see such a significant concentration of sales in the firs...

Market & Tech Reports  Updated at: 2025/07/28

leased every quarter -According to a report by GlobalData as of Q2 2025, global light vehicle production in 2025 is estimated to increase by 0.6% YoY to 91.0 mn.-The implementation of the new 25% US auto and auto-part tariffs has undermined our full-year global 2025 LV production outlook. Since our Q1 2025 report, we have cut the full-year outlook for 2025 by almost 1.5mn units to 91.0mn. Measured against a relatively weak 2024, annual growth is ...

Market & Tech Reports  Updated at: 2025/07/28

e Trump tariffs took effect, production volumes fell 9.1% y/y, while export volumes decreased 10.9% y/y. This is a significant decline, and the uncertainty of U.S. tariff policy has led to an increased reluctance to export.  Mexico production/export volume trends (Light vehicle) 2020 2021 2022 2023 2024   2025Jan-Jun   y/y y/y Production 3,040,178 3,028,481 3,308,346 3,779,234 3,989,403 5.6% 2,006,720 0.5% Export 2,681,806 2,706,980 ...

Market & Tech Reports  Updated at: 2025/07/11

et at 900,000 units, up 4% from the previous year.   GAC Aion’s Aion V(launched in November 2024, compact electric SUV) Indonesia's vehicle production, sales and exports(Source: Created by MarkLines based on GAIKINDO's data)   Related reports:ASEAN Vehicle Sales and Production Update (Q1 2025) (May. 2025)Indonesia International Motor Show 2025 (IIMS 2025) (Mar. 2025)ASEAN (2) Increase in Chinese car production (Oct. 2024)ASEAN (1) E...

Market & Tech Reports  Updated at: 2025/06/13

v. 2024 67 473 50% 39% Oct. 2024 59 406 51% 38% Sep. 2024 55 347 50% 36% Aug. 2024 47 292 35% 33% Jul. 2024 42 245 29% 33% Jun. 2024 43 203 30% 34% May. 2024 40 161 41% 35% Apr. 2024 35 121 41% 33% Mar. 2024 35 85 26% 29% Feb. 2024 18 50 -18% 32% Jan. 2024 32 32 100% 100% Dec. 2023 48 388 33% 32% Dec. 2022 36 295 38% 91% Dec. 2021 26 155 102% 143% Dec. 2020 13 64 36% 2%   According to MarkLines statistics, in 2024,...

Market & Tech Reports  Updated at: 2025/06/12

BEV and PHV Trends of Chinese Manufacturers BYD surpasses Tesla to become world's top seller of BEVs Summary Sales trends by BEV model Sales trends by PHV model BYD enters the Japanese PHV and mini BEV markets Global sales of BEVs (including range extender EVs) were dominated by Tesla until 2023, but BYD rapidly expanded its sales volume, putting it in competition with Tesla. By quarter, BYD has exceeded Tesla's sales volume since Q4 2024 and ha...

Market & Tech Reports  Updated at: 2025/06/02

and outlook (Dec. 2024)Suzuki: Production capacity in India to exceed 4m units by 2030 (Mar. 2024)Bharat Mobility Global Expo 2024 (1) EVs and Passenger Vehicles in India (Mar. 2024) Investment in India: OEMs, Two-wheelers, and Suppliers (Feb. 2024)Indian OEMs Investment and Future Plans (1) (Dec. 2023)Indian passenger car sales rank third globally in 2022 (Sep. 2023)Suzuki: Expanding Capacity in India to 2.6 M units, Production of BEVs from 202...

Market & Tech Reports  Updated at: 2025/05/15

Global Top 10 Countries Sales Forecast (Q1 2025) Global sales to increase 3.0% to 91.5M in 2025, 1.3% to 92.7M in 2026 Summary Commentary by GlobalData ⋆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 sales are forecast to increase by 3.0% YoY to 91.5 mn.-This update does not take account of the US tariffs that are being brought in as the Trump ad...

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