The automotive industry in the world: Increase in production by 10% in three quarters of 2023

Global motor vehicle production for the three quarters of 2023 reached an impressive 66,930,442 units, up 10% year-on-year. This data is provided by the World Organization of the Automobile Manufacturers (OICA), which indicates a steady increase in production in the industry.

According to Ukravtoprom, the largest share of this impressive volume belongs to passenger cars, produced in the amount of 47,962,217 units, which is a 10% increase compared to the same period in 2022.

Light commercial vehicles were produced in the amount of 15,992,426 units, representing an increase of 10%.

Large trucks reached 2,754,941 units, which also represents an increase of 10%.

Buses showed the largest growth with 220,858 units, representing a 30% increase.

Remaining the leader in the global automotive industry, China showed an impressive result of more than 21 million units of manufactured vehicles in the first nine months of 2023, which is 7% more than in the same period of 2022.

The United States ranks second with more than 8.1 million units (+9%), while Japan ranks third with almost 6.6 million units (+16%). Also in the top 5 are India - 4.5 million units (+8%) and South Korea - 3.2 million units (+17%).