TREN D 1 CONSTANTLY EVOLVING MOBILITY An automotive market in an uncertain climate Between 2019 and 2022, the global automotive market was confronted with successive crises – the pandemic, a shortage of semi-conductors, geopolitical tensions, a slowdown in growth and inflation, leading to low volumes. The market was also affected by slower-than-expected electrification and consumer uncertainties about which technology to choose. After volumes rose in 2023, global automotive production amounted to 86.8 million vehicles in 2024. The electrification of global automotive production is gathering pace in a declining market — In millions of vehicles 85.9 + 3.6% + 7.6% + 10% – 1.2% 71.6 74.2 79.8 86.8 87.8 94 Electric 42% Hybrid 33% Thermal 25% 12% 21% 67% (1) A vehicle with features and functions which are primarily enabled through software. Cheaper vehicles To respond to consumer demand, new mobility players are offering more affordable electric vehicles, particularly in China, while long-standing manufacturers are adapting their strategy to Increasingly connected vehicles and autonomous mobility Mobility is becoming increasingly connected and the industry is embarking on the era of the Software Defined Vehicle (1) and Artificial Intelligence. In China and the United States, level 4 autonomous mobility (self-driving vehicles in certain areas) is becoming a reality, while Europe is lagging behind. 2019 2020 2021 2022 2023 2024 2023 2030 Source: S&P Global Mobility, Vehicle Production, published in February 2025 – [0-3.5 t PC + LCV]. – 16.6% produce electric vehicles at lower prices, while reducing development time. Hybrid vehicles are proving very popular with consumers, particularly in the United States and China. 87.8
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