Global vehicle production
Globally, 2016 saw an estimated increase in light vehicle production of around 3.6 percent. While the automobile has its roots in central Europe, Asia has become the hottest market in terms of passenger vehicle production. Between 2015 and 2022, emerging markets are expected to contribute over 90 percent to growth. In China, the province of Qinghai is expected to become a major producer of passenger cars, offsetting trailing growth in more mature markets such as Beijing, Shanghai and Shangdong. In light of growing population levels and increasing affluence in emerging markets, global automobile production is projected to exceed the 100 million units mark soon.
By 2019, new cars are predicted to be a cleaner and smarter version of today’s fleet. Carbon dioxide emission limits for new motor vehicles are estimated to drive automakers and suppliers to build more efficient engines or make a shift towards alternative powertrain technologies. That said, disruptive technologies for telematics, as well as 3D printing are expected to become the pinnacle of innovation in the automotive industry and pave the way for the introduction of the self-driving car. Around 25 percent of consumers in the United States say that they are very likely to buy a partially autonomous car, while 23 percent of consumers say they are very likely to consider buying a fully autonomous vehicle.