Annual car production will drop forever
Even as the population of the world continues to increase, it seems likely that car production will never be this high again. In fact, annual car production peaked in 2017 and is already in a slow decline.
There are a lot of factors behind this, but ride-sharing and urban growth (and related public transit) are the two big ones. I personally use ride sharing services quite a bit (well, COVID aside) and have even toyed with the idea of getting rid of my car and exclusively using those. I’m not there yet, but it’s coming.