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LMC Automotive Global Light Vehicle Sales Update (January 2023)
2023/02/16
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Summary
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Commentary
Summary
- January’s Global Light Vehicle (LV) selling rate stood at 83 mn units/year, broadly in line with the previous month. Global supply constraints remain a key issue though distortions from tax changes also held back the global total last month. Monthly registrations were down 8.0% year‐on‐year (YoY), at 6.0 mn units for the month.
- China’s market had a sluggish start in 2023 with raw sales down 33% YoY, largely due to the spike in national COVID‐19 infections and the termination of the tax incentives. Both North America and Western Europe had positive YoY growth in January, but this should not be overemphasized as 2022 was a weak base of comparison. Eastern Europe, on the other hand, continued to suffer YoY negative growth.
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