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Worldwide motor vehicle production growth 2016-2019

Declining by around five percent in 2019, global motor vehicle production has seen its largest drop in output since the 2008-09 financial crisis. The slump follows a slight reduction in output in the previous year, as manufacturers were beginning to respond to a general slowdown in demand. While commercial vehicle sales increased between 2017 and 2019, the automotive industry may have to wait some time before vehicle sales return to 2018 levels. Demand in this sector is expected to slow significantly in the aftermath of the coronavirus crisis.

Crisis and recession loom

The coronavirus pandemic has caused disruptions in major economies forcing strict lockdown measures in some regions. The standstill was first seen in China, the world’s largest producer of cars and commercial vehicles. GDP growth in all regions is expected to contract in 2020, although some countries are likely to fare better than others. Low-income nations with little reserve are at particular risk.

Worldwide motor vehicle production growth between 2016 and 2019

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Source

Release date

2020

Region

Worldwide

Survey time period

2016 to 2019

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