The Global Light Vehicle (LV) selling rate dropped to 81.8 mn units/year in May, from 88.4 mn units/year in April. Last month marks a disappointing result, despite a 33.7% YoY increase, which comes only as a result of the pandemic‐hit low base in May 2020.
The US market continues to display remarkable strength, even accounting for the low base effect on YoY comparisons, as last month’s selling rate was the strongest May result since 2015. However, key OEMs in China are being impacted by the auto chip shortage and this is holding back both country‐level and global selling rates.
