⋆An updated version of this forecast report will be released every quarter

-According to a report by GlobalData as of Q2 2024, global light vehicle sales are forecast to increase by 2.6% y/y to 89 million units.

-Global Light Vehicle sales remain on course for a year of solid growth in 2024 of between 2.5-3.0% even though we are slightly more cautious on the outlook than three months ago.

-The Chinese market has seen soft selling rates YTD, though there will be support this year in the form of a new trade in subsidy scheme, as well as lower downpayment requirements on auto finance. European market has been one of contrast, in that the Russian market continues to recover apace, while key Western European markets are struggling to maintain momentum, let alone improve upon it. The US sales forecast for 2024 has been revised slightly upwards as sales in 2024 have slightly outperformed expectations.