Automakers have curbed recent supply chain challenges while, at the same time, consumer confidence is returning. Combined, this will ensure that lucrative opportunities exist around the world. To better gauge the automotive industry outlook in 2024 and beyond, ABI Research recently published its Vehicle Shipments and Mobility Services Market Data Overview: 3Q 2024 presentation. The report provides worldwide vehicle sales forecasts, as well as regional analyses. Some of the key trends and data from the report are shared in this article.
This article was originally published April 2024, but stats and forecasts have been updated as of July 2025.
All market forecast figures have been updated in September 2025.
Demand for Electric Vehicles (EVs) continues to grow every year, and will account for more than 50% of vehicle sales volume by the end of the decade. Governments worldwide and several U.S. states have set bans on Internal Combustion Engine (ICE)/diesel vehicle sales, causing a spike in EV production.
However, a lack of charging infrastructure is the elephant in the room. For example, a recent survey from AAA reports that 56% of U.S. consumers say a lack of charging stations is a primary barrier to purchasing an EV.
Significant investment in installing public EV charging points is essential if consumer demand for EVs and government mandates can be met. Home chargers alone will not be adequate for the sustained mass use of EVs, especially in developing markets lacking access to home charging equipment.