The Global Light Vehicle (LV) selling rate was 82 mn units/year in July, prolonging the weaker trend seen in recent months. The semiconductor shortage held back the post-lockdown recovery of vehicle sales in Europe, while its impact on inventories in the US meant average transaction prices rocketed, according to the LMC Automotive Consultancy. Worse, rising Delta variant cases threaten to impair the outlook in parts of Asia.
The US Light Vehicle market continued to be hurt by low inventories during July. Sales grew by only 3.2% YoY, to 1.28 mn units. This is a slight advance compared to July 2020’s pandemic-affected result. The selling rate declined more to 14.6 mn units/year, from 15.4 mn units/year in June. This is the lowest rate since June 2020. Continue reading