Global Light Vehicle (LV) sales fell by just 6.8% year‐on‐year (YoY) in July — somewhat better than results seen in previous months — while the selling rate rose to 85.7 mn units/year, continuing the upward trajectory observed since the peak of the pandemic in April.
While lockdown measures have generally been loosening, a risk of deterioration or a major second wave of infections remains present. One important aspect of the speed of selling rate recovery has been pent‐up demand, which itself masks the current underlying level of market strength. As in June, Korea and China continued to display positive YoY growth, while other regions showed diminishing YoY declines.
