The Chinese light vehicle market reached a record high in November 2023 with wholesales growing by 27% year-on-year (YoY) resulting in a total of almost 3.million units, according to numbers just released by the respected GlobalData consultancy.* Passenger Vehicle (PV) sales (wholesales including exports) for November increased by 26% YoY to 2.6 million units, according to the Asia-Pacific Light Vehicle Sales Forecasting Team. On a month-on-month (MoM) basis, PV sales increased by 5%, while LCV demand was up 2.8% in November.
“The November car market continued to be very active. With the help of the “Double 11” promotion and other consumption stimuli, increased demand for vehicle purchases was released, and the market continued to improve, exceeding expectations. Both the production and sales of LVs achieved substantial YoY growth, with PVs continuing to sustain good momentum and CVs maintaining rapid growth, with New Energy Vehicles (NEVs) and exports leading the way,” GlobalData said. Continue reading









Bidenomics – Sales Soaring as US Auto Market Ends 2023
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US Light Vehicle (LV) sales grew by 16.0% year-on-year (YoY) in December to 1.49 million units, according to preliminary estimates from the respected GlobalData consultancy.* Although year-ago sales were still relatively weak, December sales exceeded expectations and “indicated that the market was heating up as 2023 ended. For 2023, sales totaled 15.6 million units, a YoY gain of 13.0%, as the market recovered from the chip shortage-induced slump in 2022,” GlobalData said today.
“December has traditionally been a good time of year to buy a vehicle as automakers seek to hit year-end targets, but that had been less true in recent years amid tight inventory levels. However, with stocks now significantly replenished across the industry, discounting was back on the agenda last month. Consumers who have been sitting on the sidelines appear to have been willing to jump back into the new vehicle market again, although it also seems that fleet deliveries accounted for some of the December surge,” said David Oakley, Manager, Americas Sales Forecasts, GlobalData. Continue reading →