Light vehicle sales worldwide are expected to increase by 1.3% year over year from 2024 to 2025, from 84.0 million units in 2024 to 85.1 million units in 2025.
A number of factors, including the adoption of electric vehicles, particularly hybrids, the development and production of long-range batteries, the introduction of autonomous vehicles and the steps OEMs are taking to commercialize them, the deployment of 5G connectivity, used car trends, and online sales of both new and used cars, all have an impact on the growth of light vehicle sales.
Because of their expanding economies and urban populations, nations like China, Brazil, South Korea, and India have boosted their investments in the growth of the automobile sector. The demand for the automotive market will increase during the forecast period as a result of these investments.
“It is projected that the number of hybrid electric vehicles will increase significantly by 2025.”
Trends in the automotive industry are changing as a result of the rise in sales of hybrid electric vehicles with longer ranges. Many automakers, notably Toyota (Japan), Honda (Japan), Volkswagen (Germany), Ford (US), and General Motors (Germany), have declared plans to increase the number of hybrid vehicles in their lineup. Manufacturers including Ford and General Motors have resurrected plans to launch new HEV and PHEV models starting in 2026–2027.
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“In 2025, Asia Pacific is anticipated to be the biggest market.”
Together, the Asia-Pacific region accounts for the largest portion of PV sales volume. The primary cause is China’s extensive automobile production and exports. In terms of both car production and sales, the Chinese market is the biggest in the world. Over 26 million light automobiles were sold in China in 2024, accounting for about 50% of global sales. In terms of raw material supply, manufacture, and sales, China is the country that dominates the automotive sector. The most powerful EV battery supply chain is found in China. China is where more than half of the EV batteries are made. Furthermore, China produces about 75% of the parts used in EV batteries. These Chinese producers want to increase their global market share and service offerings. In 2023 and 2024, the production of automobiles increased in the Asia-Pacific area. In 2025, the Asia-Pacific region will continue to lead the market.
“Premiumization of automobiles and luxury cars take center stage.”
Sales of luxury and ultra-luxury automobiles have been steadily rising in areas like Asia-Pacific. OEMs are creating and attempting to add more ultra-luxury features, and they are making money off of many of these features by offering them as services. The growing number of wealthy people in this area is the reason for the increase in sales of these vehicles. It is anticipated that this trend will continue and grow in 2025 as well.
Key Players
General Motors (USA), Tesla (USA), Volkswagen (Germany), Ford (USA), BYD (China), Toyota (Japan), Hyundai (South Korea), and so forth are the leading automakers in the market. ABB, Siemens, Bosch, and other companies also provide technological development support to the automotive industry. To get traction in the automobile market, these businesses used partnerships, acquisitions, collaborations, new product releases, and other crucial tactics.
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