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On March 10th, the Korea Automobile Manufacturers Association (KAMA) issued a report titled "Global Automobile Production Status in 2024." The report forecasts that global automobile production will reach 93.95 million units in 2024, marking a 0.5% year-on-year decline. This downturn is primarily attributed to an 8.5% fall in Japanese automobile production, stemming from quality certification challenges faced by Japanese automakers. Additionally, Korean automobile production decreased by 2.7% to 4.13 million units due to sluggish domestic demand last year, resulting in Korea slipping to 7th place globally in automobile production. Notably, China, the United States, Japan, and India have maintained their positions as the top four global automobile producers for four consecutive years, collectively accounting for 59.7% of total global production.
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