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Global auto production weaker than expected until 2025

By 2025, global automobile production will remain well below its previous peak of 95 million vehicles (2017).

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Global auto production weaker than expected until 2025

By 2025, global automobile production will remain well below its previous peak of 95 million vehicles (2017). This is shown by a forecast by the Boston Consulting Group (BCG), which is available exclusively to WELT AM SONNTAG.

Contrary to previous forecasts, the consultants expect a smaller increase in production to 88 million cars in 2025 for the coming years. BCG predicts car production of 79 million vehicles for the current year, with 83 million in 2023 .

“In the long term, we assume that the market will recover. But the development will be very different depending on the manufacturer," said Albert Waas, partner at BCG, according to the report.

For the first time since the end of 2020, the excess demand on the automotive market fell in the past quarter. According to the consultants, it will drop to zero by early 2024. Most recently, 2.5 million more cars were in demand than the manufacturers could build given the shortage of semiconductors.

According to BCG, there were even 3.5 million in the first half of 2022. “All car manufacturers still have the luxury of full order books that need to be processed. But in six to twelve months, weaker demand in Europe will be a real challenge," said Waas.

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