Artificial Intelligence
Walters estimates car production (01/02)
Walters' latest estimate on car production for 2003 shows that North American automakers are expected to produce around 16,212,896 vehicles this year. This represents a 3.0% decline compared to the 16,713,689 units produced in 2002. According to Ward's Automotive Reports, many assembly plants will be closed this week due to holidays, but most are expected to resume operations on January 5, 2004. Despite the drop from 2002, 2003 is still projected to rank as the third-highest production year in history. In 2000, production reached an all-time high of 17,658,238 units, while 1999 saw 17,615,754 units produced.
The report also highlights that the U.S. economy is showing stronger signs of recovery, which could lead to a growth in 2004. However, this growth is not expected to match the levels seen in 1999 or 2000. In 2003, total vehicle production in the U.S. was estimated at 12,089,569 units, a 1.5% decrease from the previous year. Canada’s production fell by 3.5% to 2,537,610 units, while Mexico saw a significant drop of 12.1%, with 1,585,717 vehicles assembled.
In terms of market share, General Motors led with 32.2%, followed by Ford with 25.7%. DaimlerChrysler’s Chrysler division accounted for 14.7%, while Honda of America Mfg. held 7.0%, and Toyota Motor Mfg. had 6.0%. Nissan Motor Mfg. contributed 4.3%, and New United Motor Mfg. Inc. added 3.3%. Subaru-Isuzu Automotive Inc. had 1.0%, and both BMW of North America and Mitsubishi Motors USA each accounted for 1.4%. AutoAlliance International and Mercedes-Benz US each had 0.7%, with other manufacturers making up the remaining 1.6%.
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