Global light vehicles production fell by 2% over 10 months to 2024
- Global light vehicles production (passenger cars + light utility vehicles) fell by 2% over the first 10 months of 2024 (74.2 million units) compared to the first 10 months of 2023 (75.7 million units). China, the world's leading automobile producer with 24.4million units produced over the period, lead automobile production with an increase of 1.7%, but it was the United States, which continued its policy of relocating part of the production started under Donald Trump's first term (2016-2020) but continued under Joe Biden's term (2020-2024), which made the most progress among the major producing countries (+5.3% to 9.5 million units). Europe (30 countries) lagged behind with a 3% drop in its production over the period (12.2 million units). The other countries are generally down (28 million units produced compared to 30 million).
- By carmaker, the ranking of the top five groups worldwide does not change compared to 2023. Toyota remains largely the leader ahead of Volkswagen, Hyundai-Kia, Stellantis and GM, although all five have fallen, but by different amounts. Toyota and Stellantis are the two carmakers that have fallen the most (-8.7% and -8.1% respectively).
- Nissan and Ford are sixth and seventh, but the big change in this ranking is the arrival of BYD in eighth position, while the Chinese carmaker was ninth in the first half of 2024 and tenth in 2023. BYD sees its production volume increase by 36.5% compared to last year. Among the top 20 global carmakers, only Chery is doing better with a 43.1% increase in its production, going from 17th place in 2023 to 15th in the first half of 2024 and to 14th over 10 months of 2024. Behind BYD, we note the presence of Honda, Suzuki, Geely, BMW and Mercedes, which are ahead of Chery.