Summary
⋆An updated version of this forecast report will be released every quarter
-According to a report by GlobalData as of Q3 2024, global light vehicle production in 2024 is estimated to decline by 0.5% YoY to 90.6 mn.
-The global LV production environment remains challenging. Despite a relatively solid start, aggregate LV output in the following two quarters weakened (-1.4% YoY), as higher levels of inventory management in North America and Europe, deeper operational impacts from the vehicle testing irregularities in Japan, and slower than expected market-led output in parts of Asia, undermined volumes. Despite a modest offset from sweetened incentives in China in the closing half of the year, we now expect full-year 2024 global LV production to fall by -0.5% YoY and reach 90.6 mn.
Local Reconstruction Note
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Commentary by GlobalData
The source outline identifies this section as part of “Global Top 10 OEMs Production Forecast (Q3 2024)”. Based on the available local metadata, this section should be read through the lens of GlobalData, Production Forecast, Vehicles & OEMs, Market Forecast, Automotive, Suppliers and the visible introduction, figures, captions, and tables.
Related Local Signals
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