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 73 mn units/year in September. This result was significantly lower than the preceding three-month average of 82 mn units/year, signaling the worsening impact that the supply crisis is having on demand prospects.
The West European selling rate dropped to 9.7 mn units/year in September, from 11.9 mn units/year in August. The latest monthly results are clear evidence of the major sourcing issues that are haunting global vehicle production currently, with dealerships unable to meet consumer demand. Adding to market headwinds, those vehicles that are available are generally higher priced, as OEMs look to target the production of higher margin products.
August’s diesel share of new car sales, including hybridised diesel, is confirmed at 20.0%, a tenth of a point higher than we stated in the last report. September saw that metric fall to an estimated 18.5%, which may be revised very slightly when all data are received.
Passenger Vehicle (PV) sales (i.e., wholesales) declined by 12.1% year-on-year (YoY) to 1.59 mn units in August 2021. The Light Commercial Vehicle (LCV) segment also suffered a steep decline in the month (-30.2% YoY), on sales of 0.22 mn units. The overall Light Vehicle (LV) market ended August down by 14.8% YoY, with a total of 1.81 mn units sold. For the first eight months of 2021, LV wholesales grew by 13.6% YoY to 15.83 mn units.
The Indian market’s recovery is stalling as it suffers from the impact of the shortage of semiconductors, as well as rising input costs. As a result, Light Vehicle (LV) wholesales slowed to 295k units in August, from July’s strong volume of 335k units. Sales improved by only 10% year-on-year (YoY) in August, which was the lowest growth so far this year.