Tag Archives: GlobalData

China September 2024 Light Vehicle Sales Conflicting

As of 25 September, according to the China Passenger Car Association (CPCA), more than 1.1 million vehicles were registered for scrapping and trading-in on the National Auto Trade-in Platform. The actual number of those that have resulted in new vehicle sales remains unclear. If they all did, it would imply that approximately half of the 2.1 million PV sales in September were subsidized. Moreover, auto exports are increasing their importance and significance for the Chinese auto industry. Thus the trade wars will continue. Continue reading

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September 2024 Global Light Vehicle Sales Down Slightly

The Global Light Vehicle (LV) selling rate for September stood at 90 million annually, in line with August’s results, according to an analysis just released by the respected GlobalData consultancy.* Looked at year-over-year (YoY), market volumes are continuing to trend downwards as sales volumes were down ~ 4% versus September 2023. Furthermore, YTD sales are now only up fractionally compared to the same period last year.

“In September, sales were down across most regions. Sales in China fell 5% YoY, as the economy faces headwinds and despite the ongoing scrappage incentive. In the US sales fell YoY for the month, with this September having fewer selling days. Finally, sales in Western Europe remained underwhelming, as a weak economy and high vehicle prices dragged on LV market activity,” said the Global Light Vehicle Sales Forecasting Team. Continue reading

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U.S. Vehicles Sales Drop as Consumers Wait for Discounts

“September sales were in line with our forecast, although our expectations were modest for what was always penciled in to be a quieter month. Even though the Federal Reserve cut interest rates by 50 basis points – above the expectations of many analysts – it is likely to take some time for lower borrowing costs to feed through to the auto industry. Generally, high vehicle pricing is keeping monthly payments elevated, and therefore some consumers are still sitting on the sidelines,” said David Oakley, Manager, Americas Sales Forecasts at GlobalData. Continue reading

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Solid-State Cell Technology – All Hype No Production Way?

“With a stream of major cell suppliers regularly announcing ‘major’ breakthroughs in solid-state cell technology, it is proving difficult to discern the reality of the state of play at present.” This from GlobalData’s dedicated research platform, the Automotive Intelligence Center, which was released today as an analyst’s comment.*

“The harsh reality is that 90% of news, plans and solid-state plant activity appears to be bogus, as start of production (SOP) dates slip or vanish, with this being particularly true of information coming from China,” said Oliver Petschenyk Powertrain Analyst at GlobalData. Continue reading

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U.S. Light Vehicle Sales in August 2024 Disappoint

U.S. light vehicle sales totaled 1.42 million in August, the GlobalData* consultancy said today. The annualized selling rate for the month was 15.1 million a year, down from 16.0 million a year in July. The daily selling rate was estimated at 50,600 units per day in August, down from 51,400 in July. Expectations were high coming into the month, given the inclusion of Labor Day in August for the first time since 2019.** Continue reading

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Chinese Auto Industry Steady in July?

The Chinese automotive industry’s economic operations remained fundamentally stable in July, with just a minor dip in monthly production and sales, according to an analysis of the world’s largest auto market just released by the respected GlobalData* consultancy. Domestic light vehicle (LV) sales, excluding exports, totaled 1.8 million units, reflecting a significant year-on-year (YoY) decrease of 10.4% and a month-on-month (MoM) decline of 12.5%, affected by the high comparative base of the same month last year. Continue reading

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Slight Labor Day Jump Forecast for August US Auto Sales

Absolute new-vehicle sales for August 2024, including retail and non-retail transactions, are set to reach 1,437,954, a 4.2% increase from August 2023 on a selling day adjusted basis, according to a joint forecast from J.D. Power and GlobalData.* August 2024 has 28 selling days, one more than August 2023. Comparing the same sales volume without adjusting for the number of selling days translates to an increase of 8.1% from 2023.

“New-vehicle sales in August are up from a year ago, as expected. A key element of the improvement is that this year, the Labor Day holiday weekend falls within the August** sales reporting period instead of September where it normally falls,” said Thomas King, president of the data and analytics division at J.D. Power. “While the sales results for August will be positive, the seasonally adjusted annualized rate (SAAR), which corrects for Labor Day timing, is relatively modest at just 15.3 million units.” Continue reading

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West European July New Car Market Diesel Share at ~15%

In July, for the 12th month in a row, diesel* captured around 15% of the region’s new car market, according to an analysis released today by the respected GlobalData consultancy.**

“In fact, the preliminary July result was exactly that figure with June being confirmed at 14.2%. July historically is a robust month for diesel sales though the reason for this isn’t clear. So, while the MoM diesel share was positive, the YoY comparison was more negative than seen in June,” said the GlobalData European Light Vehicle Powertrain Forecasting Team. Continue reading

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July 2024 Global Light Vehicle Sales at 91 Million Year’s Best

“Sales in China maintained a solid pace as NEVs sales continue to gain traction. In the US, YoY sales declined as high vehicle pricing and concerns over the economy weighed on vehicle consumers. The same can be said for Western Europe, which saw its selling rate struggle in July. Meanwhile, the Japanese market surged as supply has begun to catch up from the losses created by the previous vehicle certification issues,” the Global Data forecast team said. Continue reading

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Western European Passenger Car Sales Down in July

The Western Europe passenger vehicle (PV)  selling rate dropped in July, at 11.2 million units/year, returning to the levels seen pre-June. PV registrations fell 0.2% YoY to 916,000 units.* “Following an improvement in the selling rate in June, Western Europe … Continue reading

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Soothsayer Shortfall – US Light Vehicle Sales Flat in July

US Light Vehicle (LV) sales fell by 0.4% YoY in July, to 1.30 million. When sales contracted in June largely as the result of the CDK cyberattack,* it was expected  by industry soothsayers that the market would experience a significant rebound in July. It didn’t happen. According to preliminary estimates released today by the respected GlobalData** consultancy, Light Vehicle (LV) sales fell by 0.4% YoY. Continue reading

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Global Light Vehicle June Sales Rate at 89 Million Best in 2024

“Sales accelerated in China last month with the price war continuing, while in the US sales staggered as a result of a cyberattack affecting dealerships. Europe saw a rise in selling rates, thanks to improvements in both East and West Europe. Meanwhile, Japan recorded lagging sales in the face of supply issues and a subdued macroeconomic climate,” said the GlobalData Light Vehicle Sales Forecasting Team. Continue reading

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Chinese Light Vehicle Market Recuperating In May

During May 2024, the Chinese Light Vehicle (LV) market showed a firm uptick with continuous structural optimization, according to an analysis and data released by the respected GlobalData consultancy.* Within the LV segment, Passenger Vehicle (PV) sales, influenced by the … Continue reading

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CDK Cyberattacks Wound June US Light Vehicle Sales

“Although the industry has become accustomed to dealing with adversity in recent years, the CDK cyberattack was another curve ball that disrupted activity on a number of levels during June. Many dealers that use CDK’s software found it difficult to conduct normal business operations, although reports suggest that workarounds were found in many cases,” said David Oakley, Manager, Americas Sales Forecasts, GlobalData. Continue reading

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May 2024 Global Light Vehicle Sales Rate Up Slightly

“Key markets, China and the US, benefited from improved selling rates versus the previous month. In Europe, there was little change for the West of the region in its month-over-month (MoM) selling rate evolution. While Eastern Europe made progress, with the latter once again supported by recovery in Russia. In Japan, the selling rate declined notably as supply issues persist,” the GlobalData light-vehicles sales forecast team said. Continue reading

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