World Market for Automotive

September 2023

The report provides an overview of the global light vehicles industry which includes an assessment of market size, company shares and brand performance. It also identifies the five major trends which are shaping the future of the automotive industry.

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This report comes in PPT.

Key Findings

Extended reality

While virtual and augmented reality (VR and AR) have been used mostly to play games or preview holiday destinations, according to Euromonitor’s Voice of the Consumer: Digital Survey 2023, such technologies are becoming increasingly prevalent in the automotive industry. Virtual reality showrooms, digitally created environments which look and feel like physical showrooms, have become more widespread as consumer demand for more immersive and personalised experiences has grown. Meanwhile, designers use AR technology to make real-time changes to virtual models.

Generative AI

Artificial intelligence (AI) is progressively becoming a new source of efficiency and productivity for companies. Within the automotive industry, generative AI is helping companies to improve vehicle design, engineering and manufacturing processes. For example, Toyota has developed a generative AI technique that incorporates certain engineering parameters into design sketches. Generative AI can help speed up the design phase of vehicles, thus helping to reduce the time-to-market of new vehicle models.

Giga casting

Giga casting, the manufacture of a car body from just a few main components is revolutionising the automotive production line. Tesla was the first company to widely utilise the giga press, a high-pressure die-casting machine which injects molten aluminium into casting moulds. This is in stark contrast to traditional models which involve OEMs sourcing a wide variety of components from various companies. According to some industry experts, the technology has allowed Tesla’s Model Y rear body to be manufactured with 40% lower cost. Toyota is one of the major automotive companies planning to use giga casting technology.

Sales are sluggish amid greater market uncertainty, but the industry will bounce back
Only four markets manage to record positive sales growth over the historic period
Asia Pacific is the only region expected to deliver stronger sales in 2027 compared to 2017
Recovering passenger car production will lift sales growth over the forecast period
SUVs and crossovers continue to gain popularity in most markets
The small SUVs and crossovers segment is catching up, but growth will prevail in all segments
Toyota maintains its dominance over close rival Volkswagen despite its slow shift to EVs
Tesla and BYD’s strong performances reflect robust demand for EVs
Several legacy car manufacturers are positioning towards an EV future
Supply chain management to underpin car manufacturers’ competitive strength in EV industry
Asia Pacific remains the leading region for sales among the 10 most popular brands
Examining the top five trends shaping the automotive industry
Sustainability pressures are earmarking a paradigm shift to electric vehicles
Case study: Stellantis launches STLA Medium as its first of four global BEV platforms
Semi-autonomous cars are surging as new rules open the way for fully driverless cars
Case study: BMW to launch the 7 Series G70 with SAE Level 3 driving system
Automotive e-commerce sales gaining popularity as car manufacturers look for better margins
Case study: Honda launches its online car sales platform in South Korea
Connected cars are becoming more interconnected with the outside world
Case study: MediaTek partners with Nvidia to deliver next-gen connected car technology
Flexible ownership is gaining popularity, especially subscription services for young consumers
Case study: Kia Germany launches its subscription service, Kia Flex
Other key trends impacting the automotive industry
Regional snapshot: Asia Pacific
Regional snapshot: North America
Regional snapshot: Western Europe
Regional snapshot: Latin America
Regional snapshot: Middle East and Africa
Regional snapshot: Eastern Europe
Regional snapshot: Australasia
Category snapshot: SUVs and Crossovers
Category snapshot: Multi Purpose Cars
Category snapshot: Sports Cars
Category snapshot: Luxury Cars
Category snapshot: Executive Cars
Category snapshot: Large Cars
Category snapshot: Medium Cars
Category snapshot: Small Cars
Category snapshot: Mini Cars
Category snapshot: Pick-Ups
Category snapshot: Vans


All vehicles captured by Euromonitor's vehicle volume sales data, i.e. light vehicles -passenger cars and light commercial vehicles combined. Medium and heavy-duty trucks and buses are not covered.

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