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Tag Archives: GlobalData
October Global Light Vehicle Sales at 94 Million Annually
The Global Light Vehicle (LV) selling rate for October was largely in line with an upwardly adjusted September figure, at 94 million units annually. Year-over Year (YoY) the market was up nearly ~11% last month, and up more than 10% YTD, according to data just released by the GlobalData Light Vehicle Sales Forecasting Team. Continue reading
Chinese Vehicle Market Sales Strong in September
“We expect sales to remain strong in the coming years. This month we have again increased our full-year 2023 forecast, this time by 300,000 units, bringing the full-year forecast to 28.9 million units, a year- on-year increase of 8%. However, it should be noted that near-term downside risks exist, mainly from the liquidity crisis in the real estate sector – said to directly and indirectly account for 25% of GDP- declining exports, and high youth unemployment,” said the GlobalData Forecast Team. Continue reading
Consumer Spending Spree – October US Auto Sales
Total US new-vehicle sales during October 2023 are forecast to reach 1,201,800, a 6.6% increase from October 2022, according to numbers just released by J.D. Power and GlobalData.* The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 15.5 million units, up 0.9 million units from October 2022. Retail buyers are on pace to spend $43.7 billion on new vehicles, up $0.3 billion from October 2022. Continue reading
September Global Light Vehicle Sales Grow But Rate Slows
The US, Western and Eastern European countries all registered double digit YoY growth, partly due to the COVID plague year of 2022 being a weak base and also because of an alleviation in supply-side issues. Chinese sales grew 5.7%, helped by a booming export sector, while the domestic market was helped by personal income tax cuts and price reductions across automakers, according to GlobalData Light Vehicle Sales Forecasting Team. Continue reading
September 2023 European Passenger Car Sales Drop
“All the top five Western European markets continued to experience double digit YTD growth over the weak performances seen in 2022. However, generally across the region, economies still face challenging conditions with high inflation and high financing costs. We continue to forecast solid growth for the full year, with 2023 set to be the best year since 2019,” said the European Light Vehicle Sales Forecasting Team. Continue reading
What Strike? September US Vehicle Market Grows Sharply
US light vehicle (LV) sales grew by 19.7% year-on-year (YoY) in September, to 1.34 million units, according to the latest analysis by the respected GlobalData consultancy. The UAW Big Three Strike that began halfway through September has thus far had little apparent effect. However, YoY comparisons are supercharged because of a low base of weak September 2022 sales. Ironically, Labor Day sales appears to bolstered sales. Continue reading
Chinese Light Vehicle Sales Up Again
Chinese Light Vehicle (LV) wholesales in August came in at 2.56 million units with growth of 7% YoY, according to the latest data and analysis from GlobalData.* Total passenger vehicle (PV) wholesale volume reached 2.32 million units with growth of 7% in the month. Simultaneously, the Light Commercial Vehicle (LCV ) sector recovered well, increasing by 11% year-on-year (YoY) to a total of 243,000 units. On a month-on-month (MoM) basis, PV sales increased by 8%, and LCV sales also increased by 5% in August, in the world’s largest vehicle market. Continue reading
August Global Light Vehicle Sales Up Again
“The USA, Western and Eastern European countries all registered double digit YoY growth, partly due to 2022 being a weak base and partly because of an alleviation in supply-side issues. Chinese sales grew 5.2%, driven by a booming export sector. However, the domestic PV market in China fell slightly because of subdued consumer confidence,” GlobalData said. Continue reading
August 2023 Western European Car Sales Best of the Year
The Western Europe passenger vehicle selling rate rose to 14.6 million units per year in August, according to an analysis just released by the GlobalData* consultancy. This is up from a 11.5 million units rate in July, making it the … Continue reading
Posted in economy, sales
Tagged auto industry commentary, autoinformed.com, GlobalData, Ken Zino
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New Pattern Bargaining – UAW and Unifor Strike All Makers?
“This year, negotiations are expected to be more contentious, and UAW President Shawn Fain has alluded that things may be done differently this time around which could mean that they negotiate with all three simultaneously – ultimately leading to a strike against all of the Detroit 3 if their demands are not met,” said Taylor Prodin, Analyst, Americas Vehicle Forecasts, GlobalData*. Continue reading
June 2023 US Light Vehicle Sales Up Significantly
The first half of 2023 has US LV sales estimated to have increased by 13.1% YoY, to 7.68 million units as the Biden Administration recovery continues. Continue reading
June US New-Vehicle Sales Forecast Up Again
“The 2023 theme of strong sales growth, enabled by increased vehicle production and pent-up demand, is continuing in June. On a volume basis, June year-to-date total sales will be just more than 7.6 million units – an increase of 13.6% – but still below pre-pandemic sales levels which were north of 8 million, said Thomas King, president of the data and analytics division at J.D. Power, which is part of GlobalData. Continue reading
Global Light Vehicle Sales at ~89 Million Rose Again in May
“US LV sales grew 23.5% YoY to 1.4 million units as OEMs raised vehicle production on the back of fewer supply issues. China performed stronger than the first four months of the year with a selling rate of 29.6 million units/year. All major West European countries reported positive YoY growth as their markets continue to recover with the easing of supply issues,” LMC said in copyrighted report for clients. Continue reading
Posted in news analysis
Tagged auto industry commentary, autoinformed.com, GlobalData, Ken Zino, lmc automotive
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Global Automotive Capacity Too High for Demand?
“With the current high-price environment as a backdrop, the progression of the Electric Vehicle (EV) transition and the potential for other external shocks, we can’t help but raise the caution flag about the prospects for the medium-term forecast and a recovery in demand to pre-pandemic levels. We had recently already trimmed the global LV forecast by an average of 7.5 million units a year throughout the forecast horizon, citing pricing pressure as the main driver. However, additional cuts to the outlook post-recovery could be on the horizon if pricing isn’t addressed,” Schuster said. Continue reading →