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GlobalData Global Light Vehicle Sales Update (August 2024)
2024/09/18
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Summary
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Commentary
Summary
- The Global Light Vehicle (LV) selling rate for August stood at 90 mn units/year, broadly in line with the previous month. In YoY terms, market volumes followed the recent trend and were down, at -4% versus August 2023. YTD sales remains positive; however, they are now just 1% higher than the same period last year.
- At the regional level, results in August were mixed. The selling rate in China remained relatively stable this month, with the market expected to gain momentum in the near-term. In the US, volumes were up YoY; however, this result was lower than expected due to a lack of Labor Day deals. Finally, the selling rate in Western Europe improved though the market continues to face challenges with economic and political headwinds — as a result, YTD sales growth in the region has further trended downwards.
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