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 dropped to 81.8 mn units/year in May, from 88.4 mn units/year in April. Last month marks a disappointing result, despite a 33.7% YoY increase, which comes only as a result of the pandemic-hit low base in May 2020.
The West European selling rate rose to 11.3 mn units/year in May, an uninspiring improvement on the, so far, subdued path to recovery in 2021. Several key markets were impacted by some degree of coronavirus-related restrictions, but even for those with relatively relaxed restrictions, underlying demand remains mostly weak.
March diesel car share is confirmed at 24.0% while April, with a few smaller markets yet to report, appears to have come in at 23.7% with year-to-date figure of 25.1%, 0.4 percentage points below the Q1 figure. The diesel car market continues to be in a period of gentle but sustained reduction.
ASEAN Light Vehicle (LV) sales rose by a slight 1% year-on-year (YoY) in Q1 2021, boosted by a strong performance in March (+48% YoY). LV sales grew in Malaysia (+36% YoY), Vietnam (+25% YoY) and the Philippines (+6% YoY) in Q1 this year, while Thailand (-4% YoY) and Indonesia (-22% YoY) closed the quarter in negative territory.
China’s Passenger Vehicle (PV) sales (i.e., wholesales) rose by 9.6% year-on-year (YoY) to 1.75 mn units in April 2021. The Light Commercial Vehicle (LCV) segment also trended upward, with growth of 4.5% YoY to 0.37 mn units. The overall Light Vehicle (LV) market ended April with an increase of 8.6% YoY, on total sales of 2.22 mn units. For the first four months of this year, LV wholesales grew by 49.7% to 8.24 mn units, owing to a low base caused by the COVID-19 pandemic.
The Indian market showed resilience in April in the face of the skyrocketing number of COVID-19 infections and the collapsing medical system. One explanation for this is that many OEMs have been fulfilling backorders. Light Vehicle (LV) sales stood at 315k units this April, compared to zero volume in April 2020. Sales contracted by 14% from the previous month and fell by 11% from the monthly average in Q1 2021.