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 suffered a severe fall in May, dropping by 33% year-on-year, with the selling rate reaching 61 mn units/year. Though a serious drop, this is an improvement on the April result, suggesting that the post-pandemic recovery, lengthy as it might be, is underway. Nevertheless, this is indicative of the serious impact of coronavirus across the globe.
West European car registrations fell by 24.8% year-on-year (YoY) in June, while the regional selling rate stood at 10.3 mn units/year. From the record-low in April, the May improvement has continued into June, though it is clear that demand remains very depressed and COVID-19 continues to weigh heavily on the regional economy.
New diesel car sales in May were just under 170,000 units compared with more than 430,000 a year earlier. But share of the market was stable at the circa 30% level that has been attained in most months of this year so far. 2.5 percentage points were lost over the last year, the lowest figure since October 2016 and not so far from zero which would indicate a flat diesel share YoY.
The ASEAN Light Vehicle (LV) market contracted by 33% year-on-year (YoY) in the first four months of 2020. Demand weakened across the region, particularly in the three largest markets of Thailand, Indonesia and Malaysia, which accounted for a combined 77% of the region’s total sales in 2019, on 30%, 29% and 18%, respectively.
China’s Passenger Vehicle sales (i.e., wholesales) increased by 5.1% year-on-year to 1.72 mn units in May 2020, while the Light Commercial Vehicle segment rose by 41.7% YoY to 0.36 mn units. The overall Light Vehicle market ended the month with an increase of 10% YoY, on total sales of 2.08 mn units.
The imposition of the nationwide lockdown on 25 March by the Narendra Modi-led government, in a bid to halt the spread of COVID-19, has put India’s automotive industry through a brutal ride. The measures were extended a total of three times through to 31 May, albeit with a gradual easing of the restrictions on each occasion.