Global Light Vehicle (LV) sales contracted sharply in March, down 37.9% year‐on‐year (YoY), with the selling rate slumping to under 58 mn units/year. As with the February result, this is territory not seen since the financial crisis.
Sizeable double‐digit YoY percentage falls hit many major markets, as the spread of coronavirus and the associated lockdowns had a profound impact on sales. Further significant falls are expected in coming months as attempts to contain the virus stifle economic activity.
