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The world’s auto production reached a new record high in 2016 as some of the world’s largest automobile manufacturing countries continued to increase their auto productions through the year. According to a recent breakdown by OICA (The International Organization of Motor Vehicle Manufacturers), the world’s total automotive production reached nearly 95 million units in 2016, of which 72.1 million units were passenger cars including many electronic vehicles and around 22.9 million units were commercial vehicles. Automobile production data has been very descriptive of where the market is heading.
|Rank||Country||Passenger cars||Commercial vehicles||Total auto production|
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The latest rankings of the world’s top automobile manufacturing countries show that China continues to lead global auto production in 2016, with a total of 28.1 million vehicles produced in the country. More impressively, China’s auto production is more than double that of the United States last year. Since 2005, China has emerged as the world’s largest automotive market, dominating the both car production and car sales in the world. The boom in China’s auto production also reflects a fast motorization of the economy and rapid highway construction.
Statistics also indicate that Asia achieved most of the growth in the global auto manufacturing sector in 2016, led by China, Japan, India and South Korea. However, the car production in Thailand, India, and China posed some of the highest annual growth rates in the world. Those three nations together manufactured 3 million cars in 2000, but then their total output jumped to over 34 million in 2016.
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Meanwhile, major developed markets like North America and Europe have had a rather flat, or even declined performance when it comes to auto production. In 2016, US production was down 5% since 2000, and Canadian car production reduced 20%. Over that same period, production fell in France, Italy, and Japan, though not in Germany. What do you think automobile production data will say about these grown market in 2017>