From the colossal production lines of China churning out 27 million vehicles to the quiet hum of Norway's roads where 87% of new cars are electric, the global motor industry is a breathtaking ecosystem of scale, transformation, and fierce competition that defines our modern world.
Key Takeaways
- Global motor vehicle production reached 85.2 million units in 2022
- China produced 27.0 million vehicles in 2022
- United States vehicle production was 10.6 million units in 2022
- Global car sales reached 66.8 million units in 2022
- Light vehicle sales in the US were 13.9 million in 2022
- China new car sales hit 26.9 million in 2022
- Global EV sales share was 14% in 2022
- Tesla Model Y was the best-selling EV with 1.2 million units in 2022
- BYD sold 1.86 million NEVs in 2022
- Global automotive industry employs 14 million people directly
- US auto manufacturing supports 10.7 million jobs
- Germany automotive sector employs 830,000 people
- Global CO2 emissions from road transport 7 Gt in 2022
- Average new car CO2 emissions in EU 108 g/km in 2022
- Global fleet fuel efficiency improved 2% YoY in 2022
Global vehicle production hit 85 million last year, led by China, major automakers, and growing electric vehicle sales.
Electric Vehicles
- Global EV sales share was 14% in 2022
- Tesla Model Y was the best-selling EV with 1.2 million units in 2022
- BYD sold 1.86 million NEVs in 2022
- Global battery electric vehicle stock reached 16.5 million in 2022
- China EV market share was 25% in 2022
- US EV market share hit 6.2% in 2022
- Europe EV sales share was 14.6% in 2022
- Global public EV chargers numbered 1.4 million in 2022
- Battery costs fell to $139/kWh in 2022
- Tesla held 19% global EV market share in 2022
- Norway EV sales share reached 87% in 2022
- Global PHEV sales were 2.4 million in 2022
- Volkswagen ID.4 sales were 210,000 units in 2022
- GM Ultium battery platform to power 1 million EVs by 2025
- Ford plans 2 million EVs annually by 2026
- Global EV investment hit $120 billion in 2022
- China installed 70% of global EV chargers in 2022
- EV two-wheeler sales reached 9.7 million in 2022
Electric Vehicles Interpretation
While Tesla may be the charismatic front-runner of the global EV race, China is the omnipresent pit crew building the entire track, leaving the rest of the world scrambling to both buy the tickets and learn the rules of a game that's already being rewritten.
Employment Economics
- Global automotive industry employs 14 million people directly
- US auto manufacturing supports 10.7 million jobs
- Germany automotive sector employs 830,000 people
- China auto industry workforce is 5 million
- Global R&D spending in auto industry was $140 billion in 2022
- US auto industry GDP contribution is $1 trillion annually
- Automotive trade value globally exceeded $1.5 trillion in 2022
- Japan auto exports worth $150 billion in 2022
- EU automotive industry turnover was €1.1 trillion in 2022
- India auto sector contributes 7.1% to GDP
- Global aftermarket size reached $450 billion in 2022
- US auto dealers employ 1.2 million people
- Automotive supplier revenue globally $1.2 trillion in 2022
- Mexico auto exports hit $150 billion in 2022
- South Korea auto industry GDP share 5%
- Brazil automotive production value $50 billion in 2022
- Global auto insurance market $800 billion in 2022
- Automotive VC investment $50 billion in 2022
- Toyota revenue $275 billion in FY2022
- VW Group revenue €279 billion in 2022
Employment Economics Interpretation
The global automotive industry is a trillion-dollar economic engine, employing armies of workers and fueling innovation, yet it still occasionally forgets to include a usable cup holder.
Production
- Global motor vehicle production reached 85.2 million units in 2022
- China produced 27.0 million vehicles in 2022
- United States vehicle production was 10.6 million units in 2022
- Japan manufactured 7.8 million vehicles in 2022
- Germany produced 4.1 million vehicles in 2022
- India vehicle production hit 5.5 million units in 2022
- South Korea produced 3.6 million vehicles in 2022
- Mexico manufactured 3.9 million vehicles in 2022
- Brazil produced 2.4 million vehicles in 2022
- Spain vehicle output was 2.4 million units in 2022
- Thailand produced 1.8 million vehicles in 2022
- Global passenger car production was 66.5 million in 2022
- Commercial vehicle production reached 18.7 million units globally in 2022
- Toyota Group produced 10.5 million vehicles in 2022
- Volkswagen Group output was 8.3 million units in 2022
- Hyundai-Kia produced 7.3 million vehicles in 2022
- Stellantis manufactured 6.0 million units in 2022
- Ford produced 4.4 million vehicles in 2022
- General Motors output was 6.1 million units in 2022
- Renault-Nissan-Mitsubishi Alliance produced 6.5 million in 2022
- Honda manufactured 3.7 million vehicles in 2022
- Suzuki produced 2.9 million units in 2022
- BMW Group output was 2.4 million in 2022
- Mercedes-Benz produced 2.0 million vehicles in 2022
- Global EV production was 10.5 million units in 2022
- Tesla produced 1.37 million vehicles in 2022
- US light vehicle production was 9.8 million in 2022
- Europe car production fell 6.2% to 13.9 million in 2022
- China's passenger car production was 20.5 million in 2022
- World truck production was 5.1 million units in 2022
Production Interpretation
China has decided the rest of the world is just playing for second place in the automotive industry, a race where the finish line is increasingly electric.
Sales
- Global car sales reached 66.8 million units in 2022
- Light vehicle sales in the US were 13.9 million in 2022
- China new car sales hit 26.9 million in 2022
- Europe passenger car registrations were 10.5 million in 2022
- Japan vehicle sales totaled 4.3 million in 2022
- India passenger vehicle sales were 3.9 million in 2022
- Brazil light vehicle sales reached 2.1 million in 2022
- Germany car sales were 2.7 million in 2022
- France new car registrations hit 1.9 million in 2022
- UK car sales were 1.9 million units in 2022
- South Korea vehicle sales totaled 1.7 million in 2022
- Canada light vehicle sales were 1.6 million in 2022
- Australia new car sales reached 1.1 million in 2022
- Russia car sales fell to 1.4 million in 2022
- Toyota sold 10.5 million vehicles globally in 2022
- Volkswagen Group sales were 8.3 million in 2022
- Hyundai Motor Group sold 7.3 million units in 2022
- Stellantis sales hit 6.0 million vehicles in 2022
- Ford global sales were 4.2 million in 2022
- GM sold 6.1 million vehicles worldwide in 2022
- Honda global sales reached 3.9 million in 2022
- Tesla delivered 1.31 million vehicles in 2022
- Global EV sales were 10.2 million units in 2022
- US EV sales reached 1.0 million in 2022
- China EV sales hit 6.9 million in 2022
- Europe BEV sales were 2.4 million in 2022
- Pickup truck sales in US were 2.3 million in 2022
- SUV sales globally exceeded 45 million in 2022
Sales Interpretation
The global auto market in 2022 was a tale of two gas-powered giants, where Toyota and Volkswagen still ruled the road, yet the electric charge led by China—and Tesla's meteoric rise—was the real headline stealing the show from their internal combustion glory.
Sustainability
- Global CO2 emissions from road transport 7 Gt in 2022
- Average new car CO2 emissions in EU 108 g/km in 2022
- Global fleet fuel efficiency improved 2% YoY in 2022
- EV avoided 220 Mt CO2 emissions globally in 2022
- Automotive recycling rate 95% in Europe
- Global auto industry water use 4 billion m3 annually
- Biofuel use in transport 5% globally in 2022
- EU mandates 100% ZEV sales by 2035
- US aims for 50% EV sales by 2030
- Hydrogen fuel cell vehicles numbered 50,000 globally in 2022
- Autonomous driving reduces emissions by 10-20%
- Tire wear contributes 28% to PM2.5 emissions
- Global shift to low-carbon steel in autos saves 100 Mt CO2/yr by 2030
- Car sharing reduces fleet needs by 30%
- Battery recycling recovers 95% materials
- Aviation biofuels in auto supply chain growing
- EU ETS covers road transport from 2027
- Global methane from vehicles 10% reduction target
- Lightweight materials cut fuel use 10%
- ADAS reduces accidents by 40%
Sustainability Interpretation
Even though our cars are learning to share, clean themselves, and drive politely, the sobering truth is we're still pumping out Olympic swimming pools of CO2 while trying to fix a leaky tire with a band-aid made of hopeful statistics.
Technology
- Global connected cars reached 300 million in 2022
- Level 2+ ADAS penetration 25% in new cars 2022
- Software-defined vehicles market $50 billion by 2030
- 5G in vehicles tested by 40 OEMs in 2022
- LiDAR market for autos $1 billion in 2022
- V2X communication deployments in 20 cities 2022
- OTA updates in 60% premium cars in 2022
- Semiconductor shortage cost industry $210 billion in 2021-22
- AI in predictive maintenance saves $50B/yr
- Digital twins used by 75% top OEMs
- AR/VR training cuts time 40%
- Cybersecurity incidents up 200% in autos 2022
- Edge computing in vehicles processes 90% data onboard
Technology Interpretation
The car industry is frantically bolting on brains and connectivity like a teenage cyborg, creating a thrilling but precarious digital future where your premium sedan is both smarter than your laptop and, with cybersecurity incidents soaring, potentially more vulnerable.
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