Six new countries to join BRICS organisation on 1st January 2024
- Since the early 2000s, the acronym BRICS has referred to five emerging or developing countries: Brazil, Russia, India, China and South Africa. In terms of car production, these five countries have been led by China, which in just a few years has become the world's largest car producer. The other four countries have seen their car production grow less strongly than China. In 2005, these five countries produced 11 million vehicles, 50% of which (5.5 million) were produced in China, while in 2022, 36 million vehicles have been produced, including 75% (27 million) in China.
- Chinese car production has been multiplied by 5 between 2005 and 2022, while the other four countries by only 1.6. The BRICS will account for 43% of global automotive production in 2022.
- From 1st January 2024, six new countries will join the BRICS: Argentina, Egypt, Iran, Saudi Arabia, the United Arab Emirates and Ethiopia. This new group represents 46% of the world's population (around 2.8 billion inhabitants in India and China alone) and will have an economic weight (35% of world GNP) that will be close to the G7 (Germany, Canada, the United States, France, Italy, Japan and the United Kingdom), which represents almost 45% of world GNP. In terms of car production, the expansion will be more modest, as the six new BRICS members, only Argentina and Iran produce cars (1.75 million units in 2022).
- By 2024, the 11 BRICS countries could therefore account for 45% of global car production, compared to 35% for the G7 countries.