Global Light Vehicle Production Market Accelerates at 10.20% CAGR in 2023, Driven by Rising Demand for SUVs and Technological Advancements - ResearchAndMarkets.com
Additionally, the global premium vehicle production market is projected to reach 11.31 million units in 2023, experiencing a CAGR of 8.28% during the same period.
- Additionally, the global premium vehicle production market is projected to reach 11.31 million units in 2023, experiencing a CAGR of 8.28% during the same period.
- The global premium vehicle market has seen substantial growth recently, driven by customer preferences shifting from sedans to SUVs and rising disposable incomes.
- By Vehicle Type: The global light vehicle production market is segmented into two categories: passenger cars and light commercial vehicles.
- Rising Demand for SUVs: The global demand for SUVs is on the rise, driving the growth of the light vehicle market.