The Global Light Vehicle (LV) selling rate improved to 84 mn units/year in January of 2022 up 3% from 2021 year-over-year, according to consultancy LMC Automotive. Nonetheless LMC noted that supply chain issues remain the “key headwind for demand, though last month also saw the rapid spread of Omicron deal a blow to some potential market activity. Reports of an improving supply environment in some markets, including China, means the worst of the crisis is likely over, it remains the key headwind to sales during 2022, overshadowing concerns over inflation and a more subdued economic outlook.”