Archive for the ‘Automotive Industry’ Category

Philippine Automotive Parts Exports Drive Economic Growth

December 19, 2024

The Philippine automotive parts industry is set to achieve remarkable milestones in 2024, with export revenues projected to reach $1.21 billion by year-end. This marks a robust contribution to the country’s international trade and reflects the growing demand for high-quality automotive components worldwide. Looking ahead, forecasts indicate an increase in export performance, with revenues […]

Automakers Look to U.S. Investment and Expanded Production Amid Potential New Tariff Policies

Automotive Industry, News, United States

November 6, 2024

Automakers are positioning for new growth opportunities within the U.S. market, with potential policy adjustments on the horizon that could impact trade and production strategies. As the sector assesses upcoming tariff policies, industry leaders are considering enhanced domestic manufacturing and increased U.S.-based investments to drive innovation and meet shifting market demands. Recent discussions around […]

Indonesia Set to Boost Global Trade with Electric Vehicle Battery Precursor Exports

Automotive Industry, Indonesia, News

November 4, 2024

Indonesia is on the verge of making significant strides in the global electric vehicle (EV) supply chain, as it prepares to export battery precursor materials to major manufacturers, including Tesla Inc. Minister of Energy and Mineral Resources, Bahlil Lahadalia, announced that exports are expected to begin by January 1, 2025, marking a promising development for […]

India’s Automobile Exports Surge by 15.5% in April-June Quarter

Automotive Industry, India, News

July 15, 2024

India’s automobile exports experienced a notable 15.5% growth in the April-June quarter of the current fiscal year compared to the same period last year, according to data compiled by a leading industry association. The total exports of vehicles reached 1,192,577 units, up from 1,032,449 units in the corresponding quarter last year. Exports of passenger […]

India Sees Strong Growth in Car Exports, Stable Domestic Sales in Q1

Automotive Industry, India, News

July 12, 2024

India’s car exports showed robust growth in the first quarter of 2023-24, totaling 180,483 units, marking an 18.6% increase compared to the previous year. This surge was driven by strong demand in key international markets, according to data released by the Society of Indian Automobile Manufacturers (SIAM). Meanwhile, domestic car sales remained steady at […]

Major Investment Project Propels Brazil’s Automotive Sector Forward

Automotive Industry, Brazil, News

February 22, 2024

In recent news, a substantial investment exceeding $1.1 billion is on the horizon for Brazil’s automotive industry, as revealed by Brazilian President Luiz Inacio Lula da Silva. This significant financial injection follows a productive meeting between Lula and a prominent executive figure, held in the capital city of Brasilia. The proposed investment aims to […]

China Surpasses Japan as Global Vehicle Export Leader in 2023, Marking a Historic Shift in the Auto Industry

Automotive Industry, China, Japan, News

January 31, 2024

In a significant industry development, China has officially taken the crown as the world’s largest vehicle exporter in 2023, surpassing Japan, according to data released by the Japan Automobile Manufacturers Association (JAMA). The remarkable growth of China’s auto sector in recent years can be attributed to substantial investments in electric vehicles (EVs), a domain […]

Passenger Car Exports Soar to Record High in 2023

Automotive Industry, News

January 30, 2024

Korea’s passenger car exports reached unprecedented levels in 2023, experiencing a remarkable increase of over 30 percent, primarily driven by the growing demand for eco-friendly models. According to data from the Korea Customs Service, domestic car manufacturers shipped passenger cars valued at $63.81 billion last year, a significant surge from the $49 billion recorded the […]

China Surges Ahead to Potentially Claim Title of World’s Leading Auto Exporter

Automotive Industry, China, News

January 14, 2024

In a groundbreaking development, the Chinese car industry is poised to surpass Japan and emerge as the world’s largest auto exporter, according to the Chinese Passenger Car Association (CPCA). The CPCA reveals that prominent automakers like BYD Auto and Chery are experiencing a surge in overseas sales, contributing to a remarkable 62% increase in Chinese […]

Brazil Anticipates 60% Surge in Electric and Hybrid Car Sales in 2024, Despite Import Tax Hurdles

Automotive Industry, Brazil, News

January 5, 2024

In a promising outlook for Brazil’s automotive sector, the local industry group ABVE announced on Friday that sales of fully electric and hybrid vehicles are poised to grow by a substantial 60% in 2024 compared to the previous year. Representing key players in the electric automobile market, including Chinese giants BYD and Great Wall […]

Mexico’s Automotive Sector Witnesses Strong Growth in October

Automotive Industry, Mexico, News

November 7, 2023

In a promising development for Mexico’s automotive industry, recent data from the national statistics agency INEGI has revealed a substantial increase in both production and exports in the month of October compared to the previous year. Automotive production in Mexico surged impressively by 35.77%, reaching a total of 378,129 vehicles. Simultaneously, the country’s auto […]

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