Global Light Vehicle (LV) sales grew by 2.7% in year‐on‐year (YoY) terms in August, while the selling rate hit an all‐time high, at 99.7 mn units/year, up from 96.1 mn units/year in July.
However, this spike was almost entirely due to distortions in Europe linked to the introduction of WLTP – a new emissions testing procedure – which pulled sales forward. We expect that European sales will fall in the coming months as a result, so that the effect is neutral for the year overall. Chinese LV sales fell YoY in August, while there was little growth in North America.
