Global light vehicle production to remain flat in 2024

The latest Automotive World Datablast contains a wealth of information on light vehicle production by region, country, vehicle company and models. This commentary provides key regional and country information and highlights the best-selling models globally for 2023 and our current projections for 2024. Future data updates will provide detailed regional and vehicle company specific commentary. A similar commentary on registrations data will follow soon.

Global light vehicle (LV) production in 2023 was just under 78.7 million, and is projected to fall slightly, by 0.2% to just under 78.5 million in 2024. LV production is still recovering post-COVID and after the supply chain distribution following the chip crisis. In addition, production this year has been hit by the slowdown in electric vehicle (EV) sales in Europe especially, the cost-of-living pressures on consumers and delays in new product launches. These will all contribute to the continued delay in the recovery to pre-COVID volumes.