Summary
⋆An updated version of this forecast report will be released every quarter
-According to a report by GlobalData as of Q3 2023, global light vehicle production in 2023 is estimated to increase by 7.8% y/y to 89 million units. In particular, the better-than-expected performance in China has led to an upward revision of approximately 1.6 million units from the previous forecast.
-The UAW strike is hampering production in North America, but overall, the impact has been fully offset by growth in China and India due to higher demand.
-Despite downside risks, recovery is beginning to approach more than 90 million units. BYD will overtake Suzuki Group in 2024 to become the world's ninth largest automaker.
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Local Reconstruction Note
This article has been expanded from the visible local mirror text, headings, tags, image captions, tables, and related local article titles. It is presented as a reconstructed reading version, not as a hidden original document.
Commentary by GlobalData
The source outline identifies this section as part of “Global Top 10 OEMs Production Forecast (Q3 2023)”. Based on the available local metadata, this section should be read through the lens of Production Forecast, GlobalData, Market Forecast, Vehicles & OEMs, Automotive, Suppliers and the visible introduction, figures, captions, and tables.
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