GlobalData Global Light Vehicle Sales Update (December 2023)

2024/01/18

Summary

  • The Global Light Vehicle (LV) selling rate for December was 94 million units/year, continuing a strong run of results since mid-year. The LV market grew 11.6% YoY to 8.4 million units in December, finishing 2023 with 90 million units, 11% higher than the 2022 total.
  • Sales in the US were helped by year-end discounts offered by the automakers along with higher incentives. While Western Europe reached 13.3 million units in 2023, 14.1% higher than 2022, the LV market in December fell by 4.3% YoY led by Germany which had a strong base in 2022. For China, total LV sales in 2023 was up nearly 11% with PV sales benefitting from stronger competition and aggressive price cuts.

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