The Global Light Vehicle (LV) selling rate rose to 85 mn units/year in June 2022, making it the best result 2022 to date. However, in year-to-date (YTD) terms, sales are -8.5% below the same period in 2021. In LMC’s expert view this means that the global market has a long road to recovery. “While supply issues are still impacting demand in most regions, a strong sales recovery in China, supported by the easing of lockdowns that allowed OEMs to ramp up production as well as a new temporary tax cut for Passenger Vehicles (PVs), meant last month’s selling rate jumped up from May,” LMC* said in a release today.