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GlobalData Global Light Vehicle Sales Update (December 2024)
2025/01/17
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Summary
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Commentary
Summary
- In December, the Global Light Vehicle (LV) selling rate stood at 97 mn units/year, marking a slight improvement from November and a robust conclusion to 2024. Market volumes experienced a strong growth of 6% YoY for the month. Overall, for the full year, global sales totaled 89 mn units, reflecting a 2% increase from the previous year.
- The key markets of US, China and Western Europe, were comfortably higher YoY. In the US, total year sales stood at 16 mn units, the best since the pandemic, while sales in Western Europe improved slightly from previous lackluster results. China’s car market performed well as government incentive, scrappage subsidies, and strong demand for NEVs helped aid consumer demand.
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