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 slipped to 80 mn units/year in August, marking the lowest result in over a year. The global chip shortage has become a serious headwind for LV sales across the world.
The West European selling rate increased slightly to 11.9 mn units/year in August, from 10.5 mn units/year in July. Any meaningful recovery in demand, following the improved economic backdrop in the region, is now being held back by the supply-side semiconductor shortage.
July’s diesel share of car sales in the region is confirmed at 22.2% with August coming in at a provisional 19.9% with two of the smaller markets yet to report and therefore being estimated. This is perhaps a milestone in the retreat of diesel car sales in the region, falling below one-fifth market share.
Following four consecutive months of double-digit growth, the ASEAN Light Vehicle (LV) market contracted by 16% year-on-year (YoY) in July. Indonesia and the Philippines were the only two markets to post growth in the month, with the remaining three dropping into negative territory.
Passenger Vehicle (PV) sales (i.e., wholesales) declined by 6.9% year-on-year (YoY) to 1.60 mn units in July 2021. The Light Commercial Vehicle (LCV) segment also suffered a steep decline of 21.6% YoY in the month, on sales of 0.25 mn units. The overall Light Vehicle (LV) market ended July down by 9.2% YoY, with a total of 1.85 mn units sold. For the first seven months of 2021, LV wholesales grew by 18.6% YoY to 14.02 mn units. Growth in year-to-date (YTD) terms has decelerated gradually as last year’s monthly base levels have normalized.
The Indian market continued to rebound strongly in July, after the catastrophic spread of the pandemic caused a plunge in sales in May. Light Vehicle (LV) wholesales surged by 49% year-on-year (YoY) to 335k units, which was 3% lower than the average monthly volume between January and April, just prior to the second wave of the pandemic.