The global automobile market was worth $2.52T in 2023

06:37

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Global Economy & Markets

The global automobile market was worth $2.52T in 2023

We begin today's show with the car industry. Everything - as we know about making cars is changing all at once. The industry is reinventing itself with the obvious shift is going electric. In 2022 around one new car in ten sold worldwide was a battery-powered vehicle. China overtook America as the world's biggest market back in 2009. Last year it passed Germany as the world's second-largest exporter. Türkiye's first domestically produced electric car TOGG has hit the roads last year. While Turkish commercial vehicle manufacturer Karsan is spearheading the transition to EVs- electric vehicles- establishing a significant presence in Europe and North America.