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LMC Automotive Global Light Vehicle Sales Update (March 2023)
2023/04/18
- Summary
- Commentary
Summary
- The Global Light Vehicle (LV) selling rate rose to 84 mn units/year in March, from February’s figure of 81 mn units/year. Many countries have reported an easing of supply shortages, as seen by the increased raw monthly registration figure of 8.2 mn units – representing growth of almost 12% YoY.
- The month‐on‐month (MoM) improvement in the SAAR performance is largely attributed to the rebounding of the China market as customers take advantage of tax incentives before April. Similarly, both the North American market and the Western Europe markets saw YoY improvements when compared against a very weak 2022. Eastern Europe showed the first positive YoY growth in March since the beginning of the Ukraine conflict in February 2022.
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