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Tag Archives: lmc automotive
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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US Auto Sales Soar in May
“After a particularly robust result in April, it would not have been surprising if May sales were a little disappointing, but instead, we interpret May’s outcome as another encouraging one for the industry,” said David Oakley, Manager, Americas Sales Forecasts, GlobalData. Continue reading
Chinese April Sales Soft – EV Exports Threaten Global Trade
AutoInformed notes here that the Biden Administration’s Inflation Reduction Act is actual a climate change and industrial policy bill that has global trade implications among US allies, trading partners and hostile states – say Russia and China. This is leading to the creation of a new term that will replace “offshoring” in trading and policy jargon. How about “friend shoring,” which is starting to emerge in automotive circles. Continue reading
May US Light Vehicles Sales Forecast Up 20%
“The industry is positioned for another strong month in May as retail sales are estimated to surge 9.6% from a year ago. This positive performance is complemented by a projected 0.7% increase in average transaction prices. As a result, it is anticipated that consumers will spend nearly $47 billion on the purchase of new vehicles in May, showcasing a significant 13% growth from a year ago,” said Thomas King, president of the data and analytics division at J.D. Power. Continue reading
Posted in economy, results, sales
Tagged auto industry commentary, autoinformed.com, GlobalData, j.d power, Jeff Schuster, Ken Zino, lmc automotive, Thomas King
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Global Light Vehicle Sales Soar in April 2023
Numerous national or regional markets have advanced from an easing of supply constraints, with overall YoY growth of 25%. China, the world’s largest auto market remains problematic. Continue reading
Posted in economy, results, sales
Tagged auto industry commentary, autoinformed.com, Ken Zino, lmc automotive
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April US Light Vehicle Sales up 10%
Average transaction prices are high by historical standards and continued to be up (by 3.6%) YoY in March. However, prices have declined month-on-month (MoM) in each month of 2023, and this trend is expected to have continued in April, with incentives also beginning to creep up. In March, incentives were up by 56.2% YoY, from an extremely low base. Continue reading
Posted in economy, prices, sales
Tagged auto industry commentary, autoinformed.com, Global data, JATO Dynamics, Ken Zino, lmc automotive, oxford economics
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March Global Light Vehicles Sales Up 12%
The month-on-month (MoM) improvement in the SAAR is largely attributed to the rebounding of the China market as customers took advantage of expiring tax incentives before April, in LMC’s view. Relatedly, both the North American market and the Western Europe markets saw YoY improvements when compared against a very weak 2022. Eastern Europe showed the first positive YoY growth in March since the beginning of the Ukraine conflict in February 2022, LMC noted. Continue reading
March 2023 Western EU Passenger Vehicle Sales at 10.9M
All of the five largest Western European countries posted strong YoY growth in registrations. However, this was largely because 2022 provides a weak base of comparison, along with some easing of supply side challenges, aiding the pace of vehicle registrations LMC noted. Continue reading
Chinese Vehicle Sales Still Slumping
However, the cumulative LV production from January to February in the world’s largest market, fell by -14% YoY. At the component level, passenger vehicle production in February increased by 12% YoY while cumulative PV production to February decreased by 14% YoY, the same as the decrease in LV overall. Light Commercial Vehicle output at 255,000 was up 9% YoY. but down by -17% YTD. The February selling rate was 21 million units/year, down 11% from a weak January, and the lowest rate since the Shanghai lockdown of April 2022. In YoY terms, however, sales (i.e., wholesales) increased by 14.3% against a low base, due to the timing of the Chinese New Year, said LMC. Continue reading
February Global Light Vehicle Sales Up 11% at 6.5 Million
The drop in SAAR – seasonally adjusted annual rate – is from a deceleration in the Chinese market in February, affected by the Chinese New Year and the termination of tax incentives in 2022. Both the North America and Western Europe markets saw YoY improvements in performance when compared against a weak 2022, while Eastern Europe continues to suffer YoY negative growth. Continue reading
February 2023 Western EU Passenger Vehicle Sales Up 11%
However, LMC hedged by saying that 2022 is a weak base for comparison. “In YoY terms, the market was up 2.8%, though the same period last year was particularly weak” Continue reading
US Light Vehicle Sales Up in February Amid Uncertainty
The February selling rate was estimated to be 15.0 million units/year, aka SAAR, down from 16.0 million units/year in January. However, as LMC observed last month, January’s rate appears to have been distorted by changing seasonality and the unique conditions in the market whereby a lack of supply is still constraining sales in some cases. Continue reading
Recession? US Consumer Auto Spending at Record Levels
Retail sales of new vehicles this month are expected to reach 907,900 units, a 0.1% increase from February 2022. New-vehicle transaction prices continue to rise, with the average price reaching a February record of $46,229, a 4.8% increase from a year ago. Consumers are forecast to spend ~$42.0 billion on new vehicles this month—the most ever for the month of February and an increase of 5.0% from February 2022, as the Biden Administration economic recovery continues. Continue reading
Posted in news analysis, sales
Tagged auto industry commentary, autoinformed.com, bevs, Elizabeth Krear, j.d power, Ken Zino, lmc automotive, PHEVs, Thomas King
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January Western European Diesel Car Market Flat
Western European diesel car sales were flat, according to the latest data just released by LMC Automotive.* Even though the data are incomplete with the Greek market lacking, LMC notes that 147,000 diesel cars were sold in the month, the … Continue reading
Diesels Still Selling in the EU New Car Market
Preliminary May diesel market share figures for the European Union show that ~16.8% of new car sales were with a diesel engine, including diesel hybrids, according to data just publicly released by the respected LMC Automotive consultancy, part of the GlobalData. *
LMC also confirmed that the April diesel share was 17.1%. The latest share figure is a 2.7 percentage-point drop from the year-ago sales, while volume, conversely, rose by ~5000 units to just under 170000 sales,” LMC said. Continue reading →