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 sales fell by 18.1% in June, with the selling rate standing at 75.6 mn units/year. While the latest results are still well below healthy market levels, they do represent a continuing improvement from the April low. With lockdowns being lifted across much of the world, recovery appears to be underway, though a sizeable risk of deterioration remains.
West European car registrations fell by 2.2% year-on-year (YoY) in July. The selling rate climbed to 14.3 mn units/year. Alongside the easing of lockdown restrictions, government incentive schemes are certainly playing a positive role in boosting sales demand. Nonetheless, the challenges of the uncertainty surrounding COVID-19 coronavirus and the threat of future containment measures still remain.
290,000 diesel cars were sold in the region in June, a fall of 140,000 compared with the same month in 2019. Share‐wise there was a small decline compared to May, resulting in a figure of 28.5%. Of the larger markets, France and the UK both had poor months for diesel sales with the UK recording a share of 17.7%, only the second sub‐20% share recorded since 2001.
ASEAN Light Vehicle (LV) sales fell by 67% YoY in May and 41% YoY in the first five months of 2020, with all markets suffering declines in both timeframes. Vietnam fared better than its ASEAN neighbors, however, both in growth rate and volume terms. LV sales in May for all five markets plunged by more than 50% from the same month in 2019, versus a drop of just 24% year-on-year (YoY) for Vietnam.
China’s Passenger Vehicle (PV) sales (i.e., wholesales) fell by 0.7% year-on-year (YoY) to 1.82 mn units in June, dragged down by a plunge in import sales (-28.4%), despite an increase in demand for domestically made vehicles (+1.3%). In contrast, Light Commercial Vehicle (LCV) sales soared by 64.3% YoY to 0.38 mn units in June.
As India further relaxed the measures implemented under the nationwide lockdown to curb the spread of COVID-19, Light Vehicle (LV) wholesales improved to 135k units in June, marking a 50% decline year-on-year (YoY). This total equated to 46% of the monthly average prior to the pandemic.