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.
Global Light Vehicle (LV) sales suffered another sharp fall in April, dropping by 45% year-on-year (YoY), with the selling rate reaching 49 mn units/year. This is even weaker than the March result, which was already reaching levels not seen since the financial crisis, and is indicative of the serious impact of coronavirus across the globe.
West European car registrations fell by 80.0% year-on-year (YoY) in April, while the regional selling rate dropped to just 2.8 mn units/year, an even more cataclysmic drop than the previously unprecedented 52.9% fall in March. COVID-19, and the associated lockdowns, is currently an overwhelming force in the region, with widespread closures of plants and dealerships alike having a big impact on automotive industry volumes.
Share‐wise, April’s diesel figure bounced back from a poor result in March. With almost all the markets having reported, we have a figure of 30.2% of Western Europe’s new car sales being diesel. March’s figure is confirmed at 26.8%.Of course, there is little that can be drawn from diesel market data right now other than it appears to be largely unaffected from a share perspective but decimated from a volume standpoint.
In Q1 2020, the ASEAN Light Vehicle market dropped below the Q1 2011 tally of 665k units to 664k units, marking a drop of 19% year-on-year. The two main culprits for this sharp decline were Thailand and Malaysia. When compared with Q1 2011, the other three markets in the region posted growth in Q1 2020. Three key factors account for the weak result in the first quarter of this year.
China’s Passenger Vehicle (PV) sales (i.e., wholesales) fell by 2.3% year-on-year (YoY) to 1.59 mn units in April 2020, while the Light Commercial Vehicle (LCV) segment grew by 17% YoY to 0.36 mn units. The overall Light Vehicle (LV) market ended the month with a slight increase of 0.7% YoY, on total sales of 1.37 mn units.
India’s Light Vehicle (LV) wholesales slumped by 58% year-on-year (YoY) to 148k units in March, dropping from 315k units in January and 289k units in February. The spread of COVID-19 infections and the subsequent nationwide quarantine from 25 March exacerbated already low retail demand and further hurt buyer sentiment.