European Automotive Industry in the Century of Asia

1 GLOBAL AUTOMOTIVE INDUSTRY

1.1 Global Development of the Automotive Industry

1.1.1 Global Motor Vehicle Production The global production of motor vehicles has been declining since 2018. The COVID-19 pandemic did not change this trend. In 2020, global motor vehicle production reached the level of 2010. In 2021, motor vehicle production increased slightly to 80.2 million units. In 2022, production grew again, reaching 85 million units, i.e., a year-on-year increase of 6%. In general, however, production growth was still 8% lower than in the pre-COVID year 2019. Fig. 1.1: Global motor vehicle production (million units)

Source: International Organization of Motor Vehicle Manufacturers (OICA). Note: Other motor vehicles include light commercial vehicles, trucks, and buses Motor vehicle production is dominated by passenger cars, with 61.6 million units produced in 2022 (representing 72% of total motor vehicle production), an increase of 8% compared to 2021. Nevertheless, the production of passenger cars in 2022 was still about 8% lower than in 2019, i.e., before the COVID-19 pandemic. The Asian region has traditionally dominated the passenger car industry, with 42.3 million units produced in 2022, accounting for approximately 69% of the market share. China produced 39% of the global passenger cars, while Europe, with 13.7 million passenger cars, had a 22% share. The US produced 1.8 million passenger cars in 2022, accounting for about 3% of global production (mainly due to increased demand for light trucks in the US). Compared to the same period in 2012, the Asian region increased its production by 20% over the long term. China boosted production by 53% compared with 2012.

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