Light vehicle production in South America
Light vehicle production – Global production of light vehicles will grow slowly and gradually until the end of this decade. The most recent update of the projections made by the analysis firm S&P Global Mobiliiy indicates that, from around 89.5 million cars and light commercial vehicles produced in 2024, the sector will manufacture 96.3 million in 2030, an increase of 7.6%.
The survey is based on figures and projections from seven regions and more than 50 countries, which account for 99% of the world’s light vehicle production.
Of the seven major producers, only Japan and Korea, which produced 12 million units last year, are expected to shrink significantly. S&P projects 10.9 million in five years’ time, compared to 12 million in 2024, a drop of around 10%.
On the other hand, Southeast Asia, the region that includes India, is expected to grow the most, jumping from 9.6 million units to 12.8 million, 33% more than the figure expected for South America, but with much more modest absolute numbers.
The combined production of Brazil, Argentina, Colombia and Uruguay will reach 3.9 million units, 900,000 more than in 2024, an increase of 30%. For this year, S&P projects 3.16 million and, in the longer term, 4.3 million by 3032.
China, the world’s largest vehicle manufacturer, is likely to further expand its lead over second-placed North America. The estimate is that the Asian country, which churned out 30.1 million light vehicles last year, will end 2030 with 32.5 million, an increase of around 8%.
In that year, says the study, Mexico, the United States and Canada together will manufacture no more than 15.6 million, a positive variation of 1% on the 15.4 million consolidated in 2024.
The picture in Europe, the third largest producer bloc, is not very different from that in the United States. If it established 17.2 million vehicles manufactured last year, it should reach 17.7 million in five years’ time, just 500,000 units or 3% more. For this year, however, S&P projects that the bloc will see a drop of 600,000 units compared to last year.
