Summary
⋆An updated version of this forecast report will be released every quarter
-In a report by LMC Automotive as of Q1 2023, global light vehicle production in 2023 was estimated to increase by 4.2% year-on-year to 86.05 million units. This is only a slight upward revision compared to the previous forecast (as of Q4 2022) against the backdrop of Russia's invasion of Ukraine and supply chain disruptions, which have not been fully resolved.
-Global production is forecast at 90.11 million and 93.89 million units in 2024 and 2025. By manufacturer, many OEMs will recover to pre-COVID-19 production levels by 2024, while BYD will overtake Mercedes-Benz in 2024 to become the world's tenth largest automaker.
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Local Reconstruction Note
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Commentary by LMC Automotive
The source outline identifies this section as part of “Global Top 10 OEMs Production Forecast (Q1 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.
Related Local Signals
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