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LMC Automotive Global Light Vehicle Sales Update (June 2022)
2022/07/15
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Summary
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Commentary
Summary
- The Global Light Vehicle (LV) selling rate rose to 85 mn units/year in June 2022, marking the best result of the year so far. However, in year-to-date (YTD) terms sales lie 8.5% below the same period in 2021, signalling that the global market has a long road to recovery.
- While supply issues are still impacting demand in most regions, a strong sales recovery in China, supported by the easing of lockdowns that allowed OEMs to ramp up production as well as a new temporary tax cut for Passenger Vehicles (PVs), meant last month’s selling rate jumped up from May.
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