Walters estimates car production (01/02)

Walters' latest forecast for car production in 2003 shows that North American automakers are expected to produce approximately 16,212,896 vehicles this year. This represents a 3.0% decline compared to the 16,713,689 units manufactured in 2002. According to the Ward’s Automotive Reports, most assembly plants will be closed this week due to holidays, but operations are set to resume on January 5, 2004. Despite the drop, 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 Jude Automotive Report also highlights positive economic indicators in the U.S., suggesting that 2004 could see a rebound in production. However, the growth rate is not expected to match the levels seen in 1999 and 2000. In 2003, total U.S. vehicle output was estimated at 12,089,569 units, a 1.5% decrease from the previous year. Canadian production fell by 3.5% to 2,537,610 units, while Mexico experienced a sharper decline of 12.1%, with 1,585,717 vehicles assembled. In terms of market share, General Motors led with 32.2%, followed by Ford at 25.7%. DaimlerChrysler's Chrysler division accounted for 14.7%, while Honda of America Mfg. contributed 7.0%, and Toyota Motor Mfg. added 6.0%. Nissan Motor Mfg. had a 4.3% share, and New United Motor Mfg. held 3.3%. Subaru-Isuzu Automotive Inc. made up 1.0%, while BMW of North America and Mitsubishi Motors USA each had 1.4%. AutoAlliance International and Mercedes-Benz US each accounted for 0.7%, with other manufacturers collectively making up 1.6% of total production.

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