A report by EIU

Automotive outlook 2024

The automotive industry will face another subdued year in 2024, weighed down by slow consumer spending, high interest rates and disruption to supply chains due to geopolitical tensions. The only bright spot will be the electric vehicles market, with sales expected to soar by 21% as governments and consumers try to mitigate the worsening effects of climate change.

EIU’s report provides a comprehensive view of the challenges, opportunities and trends to watch in the coming year.

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EIU’s industry specialists discuss the growth prospects, risks and major trends facing six important industry sectors in 2024.