IHS: Global vehicle production to increase by 21M units by 2021, China to account for half

Filed under: China, Europe, Japan, Plants/Manufacturing, Russia, South Korea

The global automotive market will continue to surge into the start of the next decade, according to a new report from IHS Automotive. The analytical firm is reporting that global annual production will increase by 21 million units by 2021. Global production has already seen a 25-million-unit increase since the dark days of 2009.

Not surprisingly, China will dominate global production, while its neighbors in Japan and South Korea focus on foreign production, rather than building vehicles in their home markets. The North American market, meanwhile, will be kept going with the help of the same foreign investments that are leading to a decline in Japanese and Korean production.

Europe is a different case altogether, as the continent continues its economic recovery. Russia and Turkey will fall back in 2014, although IHS is predicting demand will increase four percent per year from 2015 to 2017. As for production, the percentage of European-built vehicles that are sold in Europe will fall by 2021, from 70 percent to 50 percent. That number could be greater, although IHS is arguing that significant recoveries in the struggling Italian and Spanish markets will help keep sales of Continentally produced vehicles afloat.

Take a look below for the official press release from IHS.

Continue reading IHS: Global vehicle production to increase by 21M units by 2021, China to account for half

IHS: Global vehicle production to increase by 21M units by 2021, China to account for half originally appeared on Autoblog on Mon, 12 May 2014 09:30:00 EST. Please see our terms for use of feeds.

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IHS: Global vehicle production to increase by 21M units by 2021, China to account for half

The global automotive market will continue to surge into the start of the next decade, according to a new report from IHS Automotive. The analytical firm is reporting that global annual production will increase by 21 million units by 2021. Global production has already seen a 25-million-unit increase since the dark days of 2009.

Not surprisingly, China will dominate global production, while its neighbors in Japan and South Korea focus on foreign production, rather than building vehicles in their home markets. The North American market, meanwhile, will be kept going with the help of the same foreign investments that are leading to a decline in Japanese and Korean production.

Europe is a different case altogether, as the continent continues its economic recovery. Russia and Turkey will fall back in 2014, although IHS is predicting demand will increase four percent per year from 2015 to 2017. As for production, the percentage of European-built vehicles that are sold in Europe will fall by 2021, from 70 percent to 50 percent. That number could be greater, although IHS is arguing that significant recoveries in the struggling Italian and Spanish markets will help keep sales of Continentally produced vehicles afloat.


This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

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France has been vocal, but not alone, in noting the rise of the South Korean automakers in Europe. The signing of a free-trade pact in 2011 between South Korea and the EU, along with the especially value-conscious buyers in a crisis-stricken Europe, has seen market share increases measuring in the double digits for Hyundai and Kia – analysts expect 14-percent growth for the two in 2012.

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