Global Light Vehicle (LV) sales fell by 10.4% year-on-year (YoY) in January, with the selling rate coming in at a lacklustre 87.8 mn units/year, below the 2019 annual result.
Despite YoY sales increasing in Eastern Europe, elsewhere, results were weak. The unimpressive results are due to a number of factors, including the implementation of CO2 targets in the EU and the expiration of a key tax cut in South Korea. The impact of coronavirus (COVID-19) on China’s automotive sector was also apparent and will likely be a central theme in coming months.
