The threat of recession is currently slowing demand for new cars, preventing manufacturers from ramping up factory output. Nonetheless, global production volumes are forecast to grow by 5.3% this year, compared with 2022, with Western Europe leading the rise after three years below 10 million units.
Meanwhile, the Middle East/Africa region will contract by 2.5%, owing to global sanctions on Iran.
Read the full story and much more by downloading the latest report by Auto Forecast Solution and Autocar Business below. Also included is a round-up of the past month’s headlines, from BYD’s plans to open its own factory in Europe to the prospect of a revival for Britishvolt, and Ford’s pause on F-150 Lightning production.
We also look into General Motors’s acquisition of a lithium mine in Nevada, US, global car sales volumes for January 2023, and Ford’s plans to capitalise on the Inflation Reduction Act.
Finally, we evaluate the winners and losers in the hotly-contested EV start-up sector, including Arrival, Faraday Future, and Rivian.
You can download the latest report – or any previous month – at the links below:
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