- Global light vehicle production (passenger cars + light utility vehicles) posted strong growth in the first four months of 2023: +9.9% compared to the same period of 2022. This significant growth rate is comparable to that of the global automotive market over the same period (+9.8%) which means that the restocking period is over since we produce as many vehicles as we have sold for four months.

- Depending on growth in the global automotive market estimated at nearly 10% for the whole of 2023 and depending on the high level of production between June and December 2022 followed by a stabilization of the production in April 2023 compared to April 2022, it is reasonable to expect that global automotive production growth could slow down and become very weak between June 2023 and December 2023. 

- Inovev estimates global automotive production growth at 2.5% for the whole of 2023. 

- This distortion between the level of sales and production will therefore result in a new destocking of vehicles because the level of sales will be higher than the level of production. The year 2024 is therefore forecasted according to Inovev to undoubtedly carry out a significant restocking, as in 2022. Finally, it should be noted that production growth will be greater in 2023 in China and India than in the United States or Europe, which will further increase China's share in the global automotive production, which was 28% in 2019 and 32% in 2022.