Light vehicle production worldwide forecast 2019-2025

Amid the Covid-19 pandemic, the global light vehicle production dropped to some 70 million units in 2020. The automotive market is expected to bounce off, reaching the pre-pandemic production volumes around the year 2023. In 2025, it is projected that some 99 million light vehicles will be produced worldwide.

China leading global passenger car production

In 2020, China was not only the largest passenger car producer in Asia-Pacific, but the largest producer in the world. The Chinese province of Qinghai is expected to become a major producer of passenger cars, offsetting trailing growth in more mature markets such as Beijing and Shanghai.

Electric and autonomous cars gaining ground

New cars have become cleaner and smarter recently. Carbon dioxide emission limits for new motor vehicles likely caused automakers and suppliers to build more efficient engines or make a shift towards alternative powertrain technologies. Electric and autonomous vehicles could become the norm by 2030. In a global survey, almost 60 percent of respondents claimed to experience a feeling of anticipation regarding fully autonomous vehicles.