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GlobalData Global Light Vehicle Sales Update (September 2023)
2023/10/17
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Summary
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Commentary
Summary
- The Global Light Vehicle (LV) selling rate ended its 6-month rising streak by falling to 93 mn units/year in September, from a revised figure of 100 mn units in August. With 8 mn units sold in September, the global LV market has grown 8.5% YoY. Year-to-date (YTD), there have been 66 mn units sold, marking an increase of 10.2% YoY.
- For another month, the USA, Western and Eastern European countries all registered double digit YoY growth, partly due to 2022 being a weak base and partly because of an alleviation in supply-side issues. Chinese sales grew 5.7%, driven by a booming export sector while the domestic market was helped by personal income tax cuts and price reductions across automakers.
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