NorthAm auto output expected to hit 16mn in '24

  • Market: Metals, Petrochemicals
  • 03/01/24

North American automotive production is expected to hit 16mn vehicles this year, surpassing 2023's production numbers.

The estimate is 2.6pc higher than 2023 production figures of 15.6mn, according to estimates from AutoForecast Solutions.

The 2024 increase is partly because production was lost in 2023 during the [six week United Auto Workers (UAW) strike](UAW) that cut production at Ford, General Motors and Stellantis.

AutoForecast Solutions estimates that 2024 US light vehicle production could increase by 700,000 vehicles to 11mn, the first time the country has reached that figure since 2018. Canadian production is expected to fall by 300,000 vehicles as Ford and Stellantis idle some plants to retool them for electric vehicle production. Auto production in Mexico is expected to be flat at 3.8mn vehicles.

The additional 400,000 vehicles produced in North America would represent an additional 396,000 short tons (st) of steel consumption, of which 296,000st would be flat products, according to calculations based on the steel contained in a typical automobile from the American Iron and Steel Institute (AISI).

The additional production could amount to 97,200st of additional aluminum consumption, also according to calculations of AISI figures.


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