- According to preliminary estimates, LV sales grew by 17.0% YoY in August, to 1.33 million units. Low year-ago sales are still making year-on-year growth relatively easy to achieve. Inventory levels have been trending upwards, while fleet sales are accounting for a higher share of the market, and incentives are increasing, while still remaining well below historical levels.
- Global outlook – The global Light Vehicle selling rate rose for the fifth consecutive month in July, reaching 96.7 million units and outperforming initial expectations for the month. Despite continued year-on-year (YoY) growth, global LV sales volume for July recorded a moderate 7.5% increase following a run of stronger growth over previous months. China took a backseat in July, posting a decline of 6.2% from a year ago. The global automotive market remains resilient and the outlook for 2023 has been increased from 86.4 million units to 86.9 million units, an increase of 7% from 2022. Supporting this improvement, impact from production and supply disruption is less than it was a year ago and volumes continue to improve.
Register on Just Auto for FREE
Join other automotive industry professionals in unlocking selected Just Auto content only available to registered users.
Already Registered? Login hereRegistering on Just Auto for FREE will allow you to:
- Access GlobalData’s monthly Global Light Vehicle Sales Update market report
- View regular updates on other major Light Vehicle markets such as China and US
Go deeper with GlobalData
Related Company Profiles
Compact AS
LV, Inc.
UAW
Toyota AG
Ford Group Plc