LMC Automotive Global Light Vehicle Sales Update (May 2023)
2023/06/19
- Summary
- Commentary
Summary
- The Global Light Vehicle (LV) selling rate rose to 89 mn units/year in May, from 86 mn units/year in April. Most markets have outperformed 2022 which was debilitated by stringent supply constraints, that have now started to ease. As a result, nations’ LV markets have reported strong vehicle registration volumes with global LV sales at 7.4 mn units (+18.7% YoY).
- US LV sales grew 23.5% YoY to 1.4 mn units as OEMs raised vehicle production on the back of fewer supply issues. China performed stronger than the first four months of the year with a selling rate of 29.6 mn units/year. All major West European countries reported positive YoY growth as their markets continue to recover with the easing of supply issues.
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