LMC Automotive offers timely reporting of the latest data sets and estimates for several automotive markets around the world including, global car sales, the Chinese, Indian and ASEAN automotive markets and the Western European Diesel market.
The Global Light Vehicle (LV) selling rate rose to 85 mn units/year in June 2022, marking the best result of the year so far. However, in year-to-date (YTD) terms sales lie 8.5% below the same period in 2021, signalling that the global market has a long road to recovery. While supply issues are still impacting demand in most regions, a strong sales recovery in China, supported by the easing of lockdowns that allowed OEMs to ramp up production as well as a new temporary tax cut for Passenger Vehicles (PVs), meant last month’s selling rate jumped up from May.
The Western Europe selling rate slipped to 9.5mn units/year in July, in line with the year-to-date (YTD) average of 9.5mn units/year. July saw a decline in new vehicle registrations year-on-year (YoY) across most countries, which relates to the ongoing supply issues, exacerbated by the conflict in Ukraine and recent China lockdown.
Data collected so far (which are very near complete) show that June’s diesel car sales accounted for 19.2% of all car sales in the region, which is very close to the average seen over the last 12-month period. Volume-wise, it looks like 184,000 diesel cars were sold across western Europe in June which is a significant drop from the year-ago achievement, but then again, the car market overall returned the lowest vehicle sales since 1996 and remains in the midst of an extended slump. June car sales in western Europe were 30% lower than the same month in 2019 – the last ‘normal’ year.
Passenger Vehicle (PV) sales (i.e., wholesales) jumped by 39.2% year-on-year (YoY) to 2.26 mn units in June 2022. The Light Commercial Vehicle (LCV) segment was down by 19.9% YoY in the month, on sales of 0.24 mn units. The overall Light Vehicle (LV) market ended June with an increase of 30.2% YoY, and a total of 2.50 mn units sold. Year-to-date sales totalled 11.91 mn in the first half of this year, down by 2.1%.
Improved semiconductor supplies, coupled with restocking at dealerships, again drove up LV wholesales in June. Total sales gained 7% month-on-month (MoM) to 371k units and was up 29% year-on-year (YoY). Passenger vehicle (PV) sales increased 10% from the previous month to 314k units (+27% YoY), while the volume of Light Commercial Vehicles (LCVs) with GVW of up to 6T decreased by 5% over May to 57k units (+40% YoY).