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.