World production of passenger cars 1998-2021

In 2021, more than 57 million passenger cars were produced worldwide. According to the source, passenger cars are motor vehicles with at least four wheels, used for the transport of passengers, and comprising no more than eight seats in addition to the driver's seat.

Passenger car production is slowing down

New light vehicle sales shrank by 16 percent in 2020, mainly as a result of the coronavirus pandemic. Decreased affordability and demand is putting a strain on automotive manufacturers. Some consumers are also putting off new vehicles, waiting for electric and automated models to become more viable. The automotive industry in the United Kingdom in particular is struggling . British auto manufacturers include producers of premium brands such as Bentley, Lotus, and Jaguar. Mass-producing manufacturers also operate in the UK such as Nissan and Toyota. The lull in the industry coincides with the United Kingdom’s withdrawal from the European Union. The price of production in the UK is on the increase and new car prices have risen sharply between 2016 and 2020. High-end brands typically rely on exports for much of their business. Between January and June 2019, 57 percent of UK car exports took place within the EU. Trade deals for the UK after Brexit is widely assumed to be poor for the island nation. Companies such as Jaguar Land Rover, Rolls-Royce, Nissan, Toyota, and Honda are cutting jobs or completely moving production outside of the UK, citing Brexit uncertainty as a major cause.