Automotive Industry Statistics – Global Trends
Automotive industry statistics show that the largest market is Asia Pacific. The US has lost ground since 2016 with vehicle production declining by 27.7%. Carbon fiber is a labor-intensive material. Sales of private vehicles are set to decrease, as shared mobility services expand. But how much will this change? The following facts will provide some perspective. Let’s look at some of the key trends. And what are the implications for the industry? We’ll look at trends in the US, Europe, and Asia.
Asia Pacific is the largest automotive market
With its massive population and thriving economies, Asia Pacific is a top destination for automotive manufacturers. The region is home to some of the world’s most valuable vehicle manufacturers, including Toyota, Honda, and Hyundai. Sales of passenger vehicles in the region generate enormous revenue for the automotive industry. Many automakers are investing heavily in research and development and market-specific media insights. … READ MORE ...
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