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 fell to 80.7 mn units/year in February, from an already poor 82.3 mn units/year in January. In YoY terms, sales improved by 12.4% year-on-year (YoY), though this figure is distorted due to the low base caused by the pandemic already spreading in parts of Asia a year ago.
The West European selling rate rose to 11.3 mn units/year in March, a muted improvement that ends the first quarter of 2021 on a disappointing note. Sales activity has remained sluggish due to continued restrictions on activity, allowing no space for the auto sector to gain any serious momentum towards a sustained recovery from the ongoing crisis.
The small diesel bounce‐back after December’s unrivalled market for BEVs continued in February with a provisional figure of 26.8% of new cars being sold as diesel – very similar to January’s confirmed number of 26.9%.
China’s Passenger Vehicle (PV) sales (i.e., wholesales) rose by 404% year-on-year (YoY) to 1.19 mn units in February 2021. The Light Commercial Vehicle (LCV) segment also performed well, posting growth of 269% YoY to 0.18 mn units. The overall Light Vehicle (LV) market ended February with an increase of 381% YoY, on total sales of 1.38 mn units. The abnormally high YoY growth rate resulted from the depressed base caused by COVID-19 in the year-ago period. For the first two months of this year, LV wholesales grew by 73% to 3.77 mn units.
The Indian Light Vehicle (LV) market remained robust in February, with growth of 21% year-on-year (YoY) to 349k units. Passenger Vehicle (PV) sales rose by 23% YoY to 299k units, improving from a relatively low base last February when most OEMs were updating their products to meet the stricter BS-VI emissions standards in the following April. Demand for Light Commercial Vehicles (LCVs) with GVW up to 6 tonnes improved by 9% YoY to exceed 50k units during the month.