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GlobalData Global Light Vehicle Sales Update (October 2024)
2024/11/19
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Summary
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Commentary
Summary
- The Global Light Vehicle (LV) selling rate for October stood at 93 mn units/year, an improvement from the September results. In YoY terms, market volumes rebounded from the previous months' downward trend. YoY sales were up 6% versus October 2023. YTD sales have experienced a modest increase of 1% compared to the same period last year.
- In October, sales experienced a resurgence across most regions. Sales in China grew 5% YoY, as the domestic market saw a modest recovery driven by subsidies and the ongoing price war. In the US, sales grew nearly 12% for the month, driven by additional selling days and new model releases. Finally, sales in Western Europe remained broadly flat, as the region continues to experience significant political and economic headwinds.
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